UK railways prove less profitable than private operators once hoped

Collapse of East Coast franchise prompts questions about position of other firmsThe bad bet at the heart of East Coast rail franchise collapseThe East Coast has once again proved that the railway from Scotland to London is not lined with gold for private operators. This week’s collapse of the Virgin Trains East Coast (Vtec) franchise marks the third time in a little more than a decade that a train company operating on that line has failed to meet its contractual obligations. The decision t