Stagecoach South Western Trains Limited, trading as South West Trains (SWT), was an English train operating company owned by Stagecoach, which operated the South Western franchise between February 1996 and August 2017.
SWT operated the majority of commuter services from its Central London terminus at London Waterloo to South West London and was the key operator for outer suburban and regional services in the counties of Surrey, Hampshire and Dorset. It also provided regional services in Devon, Somerset, Berkshire, Wiltshire and on the Isle of Wight through its Island Line subsidiary. Unlike the majority of franchises, SWT operated without subsidies, being a profitable concern due to the high number of commuters that regularly used its services.
The area of operation was the former South Western division of Network SouthEast, and was also roughly that of the pre-1923 London & South Western Railway (excluding everything west of Exeter). As part of the privatisation of British Rail, SWT was taken over by Stagecoach. In 2004, the franchise was retained by Stagecoach when re-tendered. In 2007, the franchise was merged with the Island Line franchise to form a newly extended South Western franchise, which was won by Stagecoach. When next tendered, the franchise was awarded to South Western Railway which took over the franchise on 20 August 2017.
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