Rescue plan to be thrashed out to 'salvage' Strathspey steam railway
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A rescue plan is being put together to ‘salvage’ the Strathspey steam railway operation, the Strathy understands.
The Strathspey Railway Association – the largest shareholder in the Strathspey Railway Company – held its AGM a week ago in the Boat Hotel in Boat of Garten.
There were around 63 members in attendance and the meeting was held in private.
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The heritage railway has recently been hit with two major setbacks potentially putting its future at risk.
The world famous Flying Scotsman was involved in a collision on the line at Aviemore at the end of September which resulted in two people being injured and a six-figure loss in income and an insurance claim to be dealt with.
Then last month there was a walk-out by some key staff and volunteers after the SRC’s directors refused calls to stand down amid allegations of bullying and poor management.
A source, who did not wish to be named, told the Strathy earlier this week: “The association made it quite clear at the AGM they would not bail out the company and that they would not give the company a loan as they could not justify it as a charity.
“However, they have a plan in which they hope to rescue the company.
“This plan is to be discussed between they two boards within the next week.
“The SRC representatives stood up and said their bit.
“They have said that the company board will not appoint any new directors until a plan has been made to rescue the company.
“Despite the claims that the Flying Scotsman incident has caused the Santa Express to be put on hold a member asked what is happening with the Christmas train. The response was ‘we’re working on it.’
“Despite being in November they still don’t have an agreed and finalised plan for the Christmas trains.”
The SRA said in a statement issued to the Strathy after the AGM: “Our members were anxious to receive updates from the SRC about the incident with the Flying Scotsman in September and the current problems with the business.
“These were made by two officers of the company who are also members of the association.
“The updates were welcomed by the members present before we moved on to other business.
“The association does not of course play a direct role in these matters, and is guided by OSCR (Office of the Scottish Charity Regulator) in the way it can support the railway being also the company’s largest shareholder.”
The latest SRA accounts also show there is a contingency fund already to support the railway.
It states: "The association has set aside £60,000 in a designated fund intended to safeguard the Strathspey Railway against the risk of closure and the loss of heritage assets."
The Strathy has asked the SRA and the SRC for a comment on the rescue plan.
