Trains
Trains
Interesting point about franchises being classed as competition, because it's apparently anti competitive when it comes to QCS? It'd be interesting to see which one it is, according to the operators.
The profit I was referring to was exactly that. Operating costs would already be taken into account of at that point, otherwise the TOC would be paying unnecessary tax. For example, I read something earlier that had Arriva down as making £12.9m in (declared) profit from CrossCountry in 2012. Not bad for providing a poor customer experience.