A PILOT scheme slashing first class off-peak walk-on fares by 30% on Virgin’s Liverpool to London rail service may be rolled out across the country.
Virgin Trains started the trial at the end of March with savings of more than £55 off the price of the unrestricted Anytime ticket available at Liverpool Lime Street and Runcorn stations.
First class travellers are entitled to complimentary refreshments, wireless internet and the use of new first class lounges at Liverpool and Runcorn.
The roll-out plan was revealed today by transport group Stagecoach, which owns a 49% stake in Virgin Rail.
Stagecoach said Virgin was continuing to take market share from domestic airlines despite disruption on the West Coast main line caused by Network Rail’s upgrade work.
On the first class fares trial the company said: “The trial will be reviewed later this year and if successful the off-peak First Class ticket could be extended to other routes.”
It came as Stagecoach, Merseyside's second-biggest bus operator, reported a 13% surge in annual profits to £196.4m.
The Scottish transport giant said the recession had led to a growing demand for bus travel across the UK.
The company’s bus operations are second only to Arriva in Merseyside. Across the country its 7,000-strong fleet of buses and coaches carries 2m passengers a day.
The bus division saw operating profits rise 14% to £125.6m.
Stagecoach’s rail arm was more sensitive to economic conditions after profits fell to £55.7m from £59.1m a year ago.
The division, which also includes South West Trains and East Midland Trains as well as Virgin, has responded to slower revenues growth with a cost reduction programme and efforts to attract new customers.
Stagecoach’s share of Virgin Rail Group’s profit after tax for the year was £34m, up from £32.2m in 2008. Its share of operating profit was £42.7m, up from £41.9m last year.
Chief executive Brian Souter said there was “no doubt” the transport sector faced a challenging year ahead, but he added Stagecoach was well placed to withstand the economic pressures.
“We have a record of being able to respond quickly to the changing business environment,” he said.
