YorkRailFan
On Moderation
The Standard Reports: MTR Corporation (006) plans an early termination of operations of the Stockholm commuter rail service, a move which will cost the company a total of HK$700 million this year. Its subsidiary will hand over the concession to a new operator in March next year and pay SEK580 million (HK$404.8 million) comprising an "exit fee" and other payments to settle outstanding issues relating to the operation and management, MTRC said in a filing on 1 November 2023. The company will also need to transfer certain inventory, spares, and assets to the new operator for no consideration, and thus a total charge of SEK 1 billion is expected to be recognized by the termination. The concession was scheduled to terminate in 2026, but since June, operations of the tail have continued to be subject to serious disruption caused by the ongoing shortage of local drivers and maintenance issues, MTRC said, adding that it had been working hard to improve the financial situation of the unprofitable business.
The regional transport authority (Storstockholms Lokaltrafik) has reached an agreement with state-owned SJ AB to operate Stockholm's Pendeltag services from 3 March 2024.