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South West rail company could lose franchise

Service may be nationalised!

South Western Railway, which operates trains from Exeter to London's Waterloo station, has admitted it could be stripped of its franchise after posting a loss of £137-million.

In the company's accounts for December, directors say discussions are ongoing with the Department for Transport, which could see services transferred to a publicly-owned operator.

The firm says it's suffered from timetable delays and strikes. 

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