This paper examines the privatization of British Rail between 1994 and 1997. The transition from one public sector organization to many private sector companies is examined with the objective of understanding the impacts of privatization. Using the latest available data, an attempt is made at understanding the costs and benefits of the process. The new structure and organizations within the industry are explained and examples are given of the progress and developments being made. Some emerging issues that are a direct result of the process are touched upon.
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