line, which is in partnership with Stagecoach, expires officially on 31 March 2020.

But Virgin could disappear from railways for the first time since March 1997 in November if a new operator has been found by then. Why has this happened?

Stagecoach, which owns 49% of Virgin Rail Group Holdings, has had three rail bids blocked by the Department for Transport (DfT), including one to renew the West Coast franchise.

This is because none of their offers met pensions standards. The DfT did not mention Virgin in its ruling, but said Stagecoach “repeatedly ignored established rules”. As well as the West Coast route, which it operates in partnership with Virgin, Stagecoach had its bids for the East Midlands and South Eastern franchises rejected. The deadline for bids has passed, so VirginGroup cannot put in a bid with a new partner. Who will take over the West Coast franchise?

There are two bids still in the running for the route, now that Virgin Trains has been excluded.

First, Trenitalia West Coast Rail is a joint venture between Aberdeen-based FirstGroup and Italian state operator Trenitalia SpA. First Group won the West Coast franchise back in 2012 but then lost out after a legal challenge from Virgin Trains over how the government had awarded it. The second contender is MTR West Coast Partnership. This is a joint venture between MTR Corp, which operates Hong Kong’s public transport network, and Guangshen Railway, which operates one of China’s biggest railways. MTR operates South Western Railway as a joint venture with FirstGroup. Will the Pendolinos still