He said Virgin Trains and Stagecoach would run it on a not-for-profit basis after December - when they are due to hand over the franchise - if more time was needed for a review.

BBC: Virgin Trains offers to run West Coast 'for free'

Scottish rival FirstGroup initially won the contract to run the line, with Stagecoach's joint bid with Virgin losing out.

BBC: Stagecoach group's profits up 29%

So wrote the CEOs and Chairmen of the companies involved in the U.K. Industry Taskforce on Peak Oil and Energy--Richard Branson of Virgin, Ian Marchant of Scottish and Southern, Brain Souter of Stagecoach, Phillip Dilley of Arup and I--in the forward of our second annual report, released on Feb. 10.

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