Yesterday’s meeting between the train operators and transport ministers was the first in what is set to be an elaborate game of cat and mouse played out against the backdrop of the recession. Railways always do badly at times of economic downturns because they have fixed assets and costs while passenger numbers normally fall sharply as people cut back on both work and leisure travel. Moreover, this is the first time that the rail companies are faced with the possibility of fewer passengers since they took over from British Rail in the mid 1990s. During the last recession in the […]
↧