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By Michael Race & Katy Austin, Business reporter & Transport correspondent, BBC News
The boss of train operating company Avanti West Coast was "summoned" to talks with the new transport secretary over the company's "unacceptable performance".
Louise Haigh demanded "immediate action" in a meeting with its managing director, Andy Mellors on Tuesday after figures showed its passengers faced some of the worst travel disruption in the country.
It was the first of a series of meetings with the worst performing train firms, with railway operator Network Rail also attending.
A spokesperson for Avanti said the talks between Mr Mellors and Labour's transport secretary were "constructive".
Calls have been made to strip Avanti West Coast of its operating contract, which was awarded by the previous Conservative administration in September last year, with Ms Haigh's predecessor Mark Harper claiming the company was "back on track".
According to Office of Rail and Road figures, Avanti had the third worst reliability of all operators in Britain in the year to the end of March, with the equivalent of one in 15 trains (6.9%) cancelled.
The operator runs trains on the West Coast Main Line between London Euston and Glasgow Central, with branches to Birmingham, North Wales, Liverpool, Manchester and Edinburgh.
Its contract has a maximum term of nine years, but can be terminated at any point after three years with three months' notice.
The Department for Transport said the meetings were part of a "concerted new effort to bring together track and train and hold both sides accountable" and to improve standards.
Transport secretary Ms Haigh said she "demanded immediate action to raise standards" at Avanti and Network Rail.
"Through bold action to move fast and fix things, we can make sure passengers get the service they deserve with the biggest overhaul to our railways in a generation," she added.
The government has plans to nationalise nearly all passenger rail services within five years by bringing passenger rail contracts, which are currently operated by private train companies, into a new arms-length body Great British Railways when they expire.
The legislation required to create GBR is widely anticipated to be announced in Wednesday's King’s Speech.
Former Conservative transport secretary Mr Harper has previously claimed the plan could worsen services for passengers, saying it could lead to "French-style wildcat strikes with no notice".
An Avanti West Coast spokesperson said during the meeting its boss outlined "the issues which are unique to us as well as those affecting the industry a whole".
"It was a constructive session, and we look forward to holding more discussions on how we make further improvements to the railways in the coming months," a statement added.