Transport for Wales
Transport for Wales (TfW; Welsh: Trafnidiaeth Cymru; TrC) is a not-for-profit company owned by the Welsh Government and managed at arm's length by its appointed board. TfW oversees the Transport for Wales Group (TfW Group) consisting of itself and its subsidiaries: Transport for Wales Rail, the train operator of the Wales & Borders railway franchise; Pullman Rail Limited; and TfW Innovation Services Limited, a joint venture between TfW (51%) and former operator KeolisAmey Wales (49%).