As I reported a few weeks ago, the Dart is going to be run by a new company called DartCo, which will be owned by LRT that in turn is owned by the Council. It is reported in the Luton News that this is being done to reduce any potential risk and financial exposure.
Seems LRT aka Luton Council have no faith that the Dart can be run at a profit when it has amassed close to £300m of debt and is independently valued at only £75m. Adding to the pain is the realisation that it will cost millions to operate each year after LRT signed a contract with LLAOL to operate it. I can guarantee it will be eventually sold off at a massive loss to the towns council taxpayers, as it will be claimed it is not part of the core business. It is all a sad state of affairs but not surprising as the Council has refused to publish the business case. The suspicion is that there isn’t one.
Last edited by LTNman; 10th Aug 2022 at 19:55.