What We Do

First Class Partnerships Ltd (FCP) is a British-based strategic management consultancy specialising in railways operations and policy. Its directors and consultants have extensive Board level experience of running railways in both the public and private sectors. They have experience of infrastructure and fleet management as well as passenger and freight operations. Based on this experience FCP advises private operators and public bodies on the development and implementation of policy and strategies.

FCP also has significant experience both of commercialising railways in public ownership and of privatisation. Its Directors have advised Government and State Authorities in the methodologies for structuring concessions and trade sales for competitive tender. These can take different forms. They can be centrally or regionally tendered and may vary from short-term franchises where the railway assets are bought-in by the operator, to longer term concessions that include operation of the infrastructure and rolling stock and where key investments are made by the concessionaire. The operations themselves can vary in size and scope from small, community-based railways to large-scale regional networks and long distance, high-speed routes. Regulatory regimes can also vary, from the intrusive to the more “hands off” and FCP can advise on the appropriateness of such approaches in particular situations.

FCP can advise on the optimum choice of entity size and shape taking into account the most relevant factors – market characteristics; social, environmental and economic impact; operational size and complexity; the age and condition of the assets; the need for investment; financial parameters; and public policy. FCP has experience across a wide range of different structures for running railways and will adopt an open minded and pragmatic approach to any assignment.

Safety and the integrity of operational performance are critical in restructuring railways, especially when a change of ownership or control passes from one entity to another. FCP has considerable experience of the factors that must be taken into account and the necessary action if safety and performance are to be protected. It is by no means the case that restructuring is unsafe and the goal of change will be to improve performance. Nevertheless managing change does present risks and transition is therefore a key issue. FCP is particularly well placed to provide practical advice in this area.

A key objective of policy is best value from taxation and to leverage private capital to either replace or top-up public spending. Governments everywhere are faced with hard choices and most railways need investment. Our practical awareness of the opportunities to commercialise and improve the productivity of railways is an important starting point for understanding how Governments can get value for money irrespective of ownership, whilst the structures selected for offering concessions to the private sector will be crucial in attracting private capital. FCP is able to advise on what model is most likely to attract private capital in particular circumstances.

Railways today cannot be looked at in isolation from wider transport networks. It is sometimes a failing of railway managements that they do not consider their operations in the context of more integrated passenger and freight transport systems. Although this may not always be the central policy objective, FCP believes it is vitally important to consider transport integration when re-structuring options are being evaluated. It has relevant experience from various assignments it has undertaken, not least n the world’s major cities.