March 28, 2004

Rolling Stock Companies (ROSCOs)

ROSCOs are the privately-owned bodies that under Britain's fragmented railway system actually own the trains. They do not operate them instead leasing them to the TOCs who do.

ROSCOs have made massive investments in new trains since fragmentation. However, there have been problems. Concern has been expressed over the fitness of many of the trains bought.

It should also be pointed out that these trains would never have been bought had it not been for Government income guarantees made as part of the franchising process.

Patrick Crozier | Comments (0)