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Leasing firm enters wagon market

05 Apr 2008

ANGEL TRAINS: Loco and passenger rolling stock leasing company Angel Trains has established a wagon leasing business offering a number of specific vehicle types to European operators.

Its first wagon lease was signed with German freight forwarder TX Logistik, which leases seven Class 185 locos from Angel Trains. Slovakian rolling stock builder Tatravagonka has been awarded contracts to supply 500 container wagons and 300 pocket wagons for carrying semi-trailers, containers and swap-bodies.

'We have been investigating the wagon leasing market for a number of years and see this as a natural extension of our current services and products', said Corporate Development Director John Vale. 'The European wagon leasing market already has a number of lessors but we believe that with over 10 years experience of rail leasing on an international scale, Angel Trains can provide added value to our customers and the growth of this market offers us some real opportunities.'

One of three leasing companies created in 1994 as part of the privatisation of British Rail, Angel Trains is now a subsidiary of The Royal Bank of Scotland Group, which is currently seeking a buyer for the business.