Tube incidents hit maintenance firms
Tuesday 21 October 2003
Companies involved in track maintenance for London Underground saw their shares fall yesterday after two derailments over the weekend, apparently caused by track faults.
Jarvis, which is still awaiting judgement on the Potters Bar rail crash last year, owns one third of Tube Lines, the maintenance company for three LU routes including the Northern Line.
Balfour Beatty and WS Atkins are among the five partners in Metronet, which has responsibility for the other nine lines.
Jarvis shares lost 11p to 290p after it emerged Tube Lines engineers had carried out maintenance work on the track at Camden Town station in north London on the Northern Line only hours before a train hit the tunnel wall.
Balfour Beatty and Atkins share responsibility through Metronet for the Piccadilly Line, which had a derailment between Hammersmith and Barons Court stations in west London on Friday evening. Balfour shares lost 10p to 467.5p yesterday and Atkins' 5.5p to 213.5p.
Although crashes are rare on London Underground there are fears that the part-privatisation of the system might lead to a lowering of safety checks to cut costs. Bob Crow, general secretary of the rail union RMT, threatened this weekend to hold a strike ballot unless the public-private partnership was dismantled.
The drivers' union Aslef expressed concerns over maintenance and said several drivers had reported a bumpy ride on the approach to Camden Town station.
- 1 Green village to be bulldozed and mined for lignite in Germany's quest for non-nuclear fuel
- 4 Teenagers irritable because early school hours mess with their biological clocks
- 5 Now we know whose fault it is if you end up being murdered in Thailand
Isis could become 'world’s first truly terrorist state' and bomb UK with nuclear and chemical weapons, Theresa May warns
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
£50 - £60 per day + plus Travel Scheme: Randstad Education Cardiff: The Job: O...
£100 - £110 per day + Plus travel scheme: Randstad Education Cardiff: The Job:...
£40000 - £50000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...
£100 - £105 per day + plus Travel Scheme: Randstad Education Cardiff: The Job:...