Operating Lease Agreement in relation to a fleet of class 350 electric multiple units and associated equipment

Direct Award of a 16-year lease of a fleet of 37 Class 350/2 electric multiple units to replace the current Class 323 electric multiple unit fleet which Northern Trains Limited ("Northern") lease and operate on the Northern Network, primarily in the Greater Manchester area. The lease includes an ability for Northern to break the lease after 8 years (in August 2034) where the rolling stock fails to meet performance targets in respect of reliability and availability. As part of the leasing of the class 350 fleet, Nor...