East Coast Rail Line is Nationalised

The government is taking the East Coast rail line that runs from London to Edinburgh and which has been operated by National Express into public ownership. National Express has struggled with falling revenues and higher costs that have contributed to rising losses on the line. In a press release, National Express said that higher hedged fuel costs added £11 million of cost in the first half of 2009, while increased pension costs cost the business a further £3 million.

Sources of finance: PLCs turn to their shareholders

What do large, quoted companies do when they encounter problems raising bank finance and when they realise that their balance sheets are over-geared?  Have a rights issue...