BusinessCompany NewsRailtrack report good news for E&Y

Railtrack report good news for E&Y

Ernst & Young, Railtrack's administrator, will receive welcome news this week when a report reveals safety has improved on the network since it took control of the company.

Amid concerns that since Railtrack went into administration, delays and safety levels had worsened, the company will reveal an all-time low of safety ‘incidents’.

The figures will show measurers such as the number of red signals passed during November were the lowest ever recorded by the company. The news came as E&Y prepared to replace Railtrack’s chief executive Steve Marshall, chairman John Robinson and finance director David Harding on the board of Railtrack plc.

Marshall and Robinson had already resigned and were serving out notice periods, that could have seen them remaining until April next year. Commenting on the huge increase in delayed trains, which stood at 45% for November, a spokesman for Railtrack said it was usual to see increases at this time of year but indicated the situation had not been helped by the administration.

Links

Big Five jockey for Railtrack position

Byers risks E&Y challenge

E&Y faces ‘collaborative’ Railtrack bid

Ex-Tory minister slams Railtrack saga

For & Against: Putting Railtrack into receivership

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