Russia’s TransClassService (TCS), a Russian private operator of passenger services, sold some of the shares in TC Grand Service Express, a company operating the Grand Express luxury train from Moscow to St. Petersburg, TCS said on Tuesday, according to TASS.
“In view of development of other kinds of railway passenger transportation, specifically the capacity increase in the high-speed traffic on the Moscow – St. Petersburg route, the TCS management made a decision to change the development strategy of the corporate route network and exclude the Moscow – St. Petersburg destination from it. The decision was taken in this regard to sell shares in TC Grand Service Express,” the company said.
TCS has not indicated the buyer and the amount earned for divestment of the operator of the most comfortable train in Russia, referring to the confidentiality agreement between the buyer and the seller.
TransClassService, established in 2006, is currently operating over 150 owned railcars as part of passenger trains of Russian Railways in 16 destinations.
The Grand Express, the first deluxe train in Russia, begins operating between the two capitals in 2005.
More than 90% of the passenger transportation market in long-distance trains in Russia is occupied by the Federal Passenger Company (a subsidiary of Russian Railways). However, passengers are transported by private railway companies like Grandserviceexpress and Tver Express, which run between Moscow and St. Petersburg.