FirstGroup Launches New Direct Rail Service to Stirling

FirstGroup will introduce a new direct train service between London Euston and Stirling in mid-2026, expanding its open access operations and reaching new communities in Scotland and England. This is reported by the railway transport news portal Railway Supply.

The route will run under the Lumo brand using five Class 222 diesel trains, each offering 340 standard seats. This adds roughly 447 million seat miles annually and includes stops at Milton Keynes, Preston, Lockerbie, and Motherwell.

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This service will be the first to link Whifflet, Greenfaulds, and Larbert directly to London, enhancing travel options and access. FirstGroup expects the route to generate around £50 million per year in revenue with a double-digit operating margin before IFRS 16.

FirstGroup Strengthens Its Open Access Strategy

Track access rights for the Stirling line are secured through 2030 following FirstGroup’s acquisition of Grand Union Wcml in 2024. The agreement allows flexibility for service expansion and future route extensions.

In addition, FirstGroup has gained access for a new service connecting London and Carmarthen, forecasted to deliver similar financial returns. These two routes will nearly double its open access capacity across the UK.

Future Investments Support FirstGroup’s Growth

To support long-term growth, FirstGroup submitted applications to increase services on current routes and launch new ones. If approved, this could triple its total open access footprint.

The company is also exploring greener technology options. A £500 million rolling stock agreement allows potential deployment of electric or bi-mode trains beyond 2030, aligned with sustainability goals.

Financially, FirstGroup has room to grow. Its current adjusted net debt to EBITDA ratio is 0.4x, but it can raise leverage to 2x adjusted EBITDA, projected at £237 million for FY2026, to fund future investments.

Source: au.investing.com

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