page_title: Rail transport in Great Britain
section_title: Train leasing services
hierarchical_section_title: Rail transport in Great Britain / Train leasing services
context_page_description: The railway system in Great Britain is the oldest in the world. The first locomotive-hauled public railway opened in 1825, which was followed by an era of rapid expansion. Most of the track is managed by Network Rail, which in 2017 had a network of 15,811 kilometres of standard-gauge lines, of which 5,374 kilometres were electrified. These lines range from single to quadruple track or more. In addition, some cities have separate metro, light rail and tram systems. There are also many private railways, which are primarily short lines for tourists. The main rail network is connected with that of continental Europe by the Channel Tunnel and High Speed 1, which fully opened in 1994 and 2007 respectively.
  In 2016, there were 1.718 billion journeys on the National Rail network, making the British network the fifth most used in the world. Unlike a number of other countries, rail travel in the United Kingdom has enjoyed a renaissance in recent years, with passenger numbers approaching their highest ever level. This has coincided with the privatisation of British Rail, but the cause of this increase is unclear.
context_section_description: At the time of privatisation, the rolling stock of British Rail was sold to the new operators, as in the case of the freight companies, or to the three ROSCOs (rolling stock companies) which lease or hire stock to passenger and freight train operators. Leasing is relatively commonplace in transport since it enables operating companies to avoid the complication associated with raising sufficient capital to purchase assets; instead, assets are leased and paid for from ongoing revenue. Since 1994 there has been a growth in smaller spot-hire companies that provide rolling stock on short-term contracts. Many of these have grown thanks to the major selling-off of locomotives by the large freight operators, especially EWS.
  Unlike other major players in the privatised railway system of Great Britain, the ROSCOs are not subject to close regulation by the economic regulatory authority. They were expected to compete with one another, and they do, although not in all respects.
caption: Fragonset Railways class 47 at Virginia Water station April 2004
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