Avanti West Coast is currently owned by a consortium known as First Trenitalia West Coast Rail, which is a joint venture between the British company FirstGroup (70%) and the Italian national railway, Trenitalia (30%). This partnership took over the West Coast Main Line franchise from Virgin Trains in December 2019. However, the ownership structure is in a period of significant transition. In late 2024, the UK government announced that Avanti West Coast would be nationalized as part of the broader abolition of the rail franchising system in Great Britain. Under this plan, the routes currently operated by Avanti will be taken over by the public body Great British Railways by October 2027. Currently, the company operates under a "National Rail Contract" with the Department for Transport (DfT), which runs until October 2026. This means that while FirstGroup and Trenitalia still manage the day-to-day operations and the "Avanti" brand, the financial risk and long-term strategic control have already largely shifted toward the state as the UK moves toward a "publicly owned, privately operated" or fully nationalized model for its primary rail arteries.