April 10, 2019 / 6:43 AM / 10 months ago

Stagecoach disqualified from three government bids

April 10 (Reuters) - Stagecoach Group said on Wednesday it was disqualified from three UK rail franchise bids after officials informed the train and bus operator that its proposals did not meet some requirements related to pensions risk.

The company said its independent bid for East Midlands and its joint bids with Alstom for South Eastern and with Virgin Group and SNCF for West Coast have been rejected.

Its proposals were taking lower risks related to the Railways Pension Scheme, the company said, adding that it will seek an urgent meeting with officials to discuss its concerns.

“We believe strongly that the private sector should not be expected to accept material risks it cannot control and manage,” Chief Executive Officer Martin Griffiths said in a statement.

Reporting by Pushkala Aripaka in Bengaluru; Editing by Arun Koyyur

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