Government has taken ownership of 40 four-car electric multiple units.
The Class 365 fleet is now the property of the Department for Transport. Currently 21 are leased to Govia Thameslink Railway, with 19 stored at Crewe South Yard.
The ‘365s’ were procured in 1994 under a unique financing model that was put in place by British Rail shortly before privatisation, which meant Government took ownership of the fleet at 0200 on August 15.
This was an agreement put in place so that should the rolling stock leasing company that owned the trains face financial difficulties, then Government would step in and take ownership so that services could continue running.
Eversholt Rail Group owned the ‘365s’. There is no suggestion that the rolling stock company has any financial concerns, rather that the clause has always been in place.
A RAIL source explained that discussions had been ongoing for most of 2019. The DfT has taken ownership of the fleet through a company called Train Fleet (2019) Limited. It is understood no more trains will revert to DfT ownership.
A DfT spokesman told RAIL: “Any train operators wanting to add capacity by utilising the trains not currently in use on the GTR network can present a business case to the Department in the normal way.”
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For the FULL story, read RAIL 886, published on August 28, and available digitally on Android, iPad and Kindle from August 24.
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AndrewJG8918 - 23/08/2019 00:17
Will Great Northern still keep the Class 365s or will the Class 365 be sent for storage as the government doesn't want the Class 365 scrapped but could be stored and perhaps convert them into Hydrogen units. As 1 Class 365 has been written off because of the derailment at Potters Bar in 2002 which killed 7 people and injured 76. Because of a track point failure.
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mr pel - 31/08/2019 20:10
AndrewJG8918 Every comment you make on every subject has no substance. You don't know what you're talking about.
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Clive Broadhead - 23/08/2019 14:28
Why doesn't Northern take on the Government owned Class 365 Express dual voltage electric multiple units to increase capacity on the Manchester to Leeds service. If necessary the DC shoes could be used to take power from a third rail installed in the tunnels, like Thames Link, to avoid pollution issues for staff and passengers?
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Clive Broadhead - 23/08/2019 14:28
Why doesn't Northern take on the Government owned Class 365 Express dual voltage electric multiple units to increase capacity on the Manchester to Leeds service. If necessary the DC shoes could be used to take power from a third rail installed in the tunnels, like Thames Link, to avoid pollution issues for staff and passengers?
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Mr Fenton - 27/10/2019 16:43
I love the Department for Transport. They really set great fares and service levels and great speed limits. Keep up the good work with your Class 365s that you now own Department for Transport and the Gov.
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Mr Fenton - 06/11/2019 12:01
Yep, they do
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