Go-Via buys pig in a poke?

Eye welcomes the new South Central franchise which began operation yesterday

The franchise was awarded to current operator Govia (a Go-Ahead and Keolis joint venture) and will see the continuation of the Southern brand.

But what's this?

The winning bid was based on 4% revenue growth over the first two years of the franchises life.

Alas.

What looked a 'toppy' bid may now turn into a Herculean challenge.

This from the BBC...

London Underground (LU) has been hit by a fall of 190,000 journeys a day, with the recession and job losses blamed... August journey figures were 6.4% lower than the same month last year, Transport for London (TfL) said.

With loadings down on LU no doubt similar pain is being felt by NSE TOCs as well.

Watch out for eye-watering increases in unregulated ticket prices and car park charges as Govia struggles to balance the books.