RSM's financial modelling team has provided a comprehensive model audit for the successful National Express bid for the Essex Thameside rail franchise.
The Department for Transport has announced that the National Express Group has successfully retained the Essex Thameside franchise. National Express, which currently operates the line as c2c, will continue to run the service from 9 November 2014 until 2029. National Express will make around £1.5 billion of payments to the Department for Transport over the life of the franchise. Under National Express the c2c service has radically improved from the ‘Misery Line’ into the most punctual train operator in the UK. In the new 15 year franchise c2c will be transformed again, with new trains, extra services and a ground-breaking Personal Performance Promise at the heart of a Passenger Charter that will put it at the forefront of international standards of customer service.
What RSM did
RSM's role in supporting National Express was to provide a detailed review of the financial models that underpinned their bid. This involved mobilising a large team to review a complex suite of interlinked financial models against compressed timescales and exacting standards.
'RSM were efficient, responsive and thorough. They delivered an exceptional quantity of work to very tight deadlines and in doing so allowed us to close this vital deal.'
Chris Hardy, Group Commercial Director, National Express
Alistair Hynd, Partner
Simon Martin, Director
Chris Chittleborough, Manager