TO say the first two and a half years of Abellio’s 10-year contract to run the ScotRail franchise has been eventful is an understatement.

The Dutch company behind Holland’s nationalised railway network took over in April 2015, and within nine months made a profit of £9.5m, prompting critics to level accusations of profiteering. Just a year later, however, accounts revealed ScotRail had suffered a £3.5m loss after tax and had to be bailed out to the tune of £10m by its Dutch parent company, which had neither sought nor received any dividend since the franchise began.

Sources at the company blamed tough trading conditions and poor performance following the prolonged closure of Queen Street Station for the losses, but claimed the outlook was “robust”.

The latest development in the saga, however, suggests ScotRail staff may not agree with this assessment. Managers recently informed workers the £100 bonuses promised to staff who met performance targets as part of a scheme aimed at increasing morale will not now be paid.

Not surprisingly, union bosses are angry at the turnaround, blaming management incompetence for the failure to meet profit goals, pointing out that revenues actually rose last year, and it’s hard not to have sympathy with the staff who met the targets set by bosses, but will not now receive the financial rewards. Treating staff in this way is unlikely to build morale at a time when the company is still having to work hard to improve its overall performance.

But there also are bigger questions behind the revelations of the last few weeks, not least around the health and profitability of ScotRail, Abellio’s promise to “Build the best railway Scotland has ever had”, and the Scottish Government’s stated longer term goal of moving towards nationalisation.

Granted, as tends to be the pattern with rail franchises, investment (put at £475m since 2015 by Abellio) is front-loaded, and there is little doubt that the improvements promised - which include the introduction of a new fleet of electric class 385 trains and the “extensive” refurbishment of high-speed trains to serve Scotland’s cities from next year - represent big ticket items.

But one wonders whether bosses at Abellio might be starting to get rather jittery about the future profits, regardless of what vocal critics on the left who support nationalisation may say.

It is surely ironic to say the least that a Dutch firm accused of profiteering on the backs of hard-pressed Scots passengers and taxpayers has actually been bailing out Scottish train journeys.

The Scottish Government will, of course, be watching all this extremely closely. Ministers will ultimately be held accountable by long-suffering passengers for the success or otherwise of Abellio. In the longer term, meanwhile, much will be expected of any Government that moves to renationalise the railways. Abellio’s woes highlight this may not be as straightforward or financially viable as some believe.