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FirstGroup's shares nudge up after the Aberdeen company strikes termination deal for rail contract


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FirstGroup has agreed to pay another £6 million to escape its TransPennine Express (TPE) rail contract obligations.
Shares in the Aberdeen-based transport operator nudged up 0.75% to 74p today (May 11) after it announced a termination fee deal with the Department for Transport (DfT).
A condition of emergency recovery measures agreements (ERMAs) put in place by the DfT to provide continuity for rail passengers and the industry during the coronavirus pandemic was that train operators and the DfT would work together to decide whether payments are required to terminate pre-existing franchise agreements – and if so, how much. ....

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