Angel Trains has signed contracts to finance
20 new Desiro trains, worth a total of £131m.

The new rolling stock contract will see
Siemens plc manufacture ten trains to strengthen the existing
London Midland fleet, and ten trains to First TransPennine Express

The new electric vehicles will be employed to
strengthen London Midland’s existing commuter services into London
and along the West Coast main line, while TPE will use the trains
on newly electrified services between Manchester and Scotland, once
electrification schemes are completed by Network Rail.

Leasing Life covered the beginnings
the deal between London Midlands and Angel trains
in September

Kevin Tribley, chief operating officer for
Angel Trains, said: “The finalisation of these contracts with
London Midland and TPE is a significant milestone. We are also
delighted to add First TransPennine Express to our list of

“The combining of orders for London Midland
and First TransPennine Express with an existing train specification
means we can deliver value for money by reducing the whole-life
cost of operating the fleets.”

The leasing company already has 937 Desiro
vehicles in the UK, and a total fleet of 1,017. Angel trains now
leases vehicles to all of the 19 franchised train operators in the

The new trains will start to enter service in
winter 2013, with the final batch for London Midland expected to
enter service in April 2014.