Transport for Wales Rail Limited, branded as Transport for Wales and TfW Rail (Welsh: Trafnidiaeth Cymru and TrC Trenau), is a Welsh publicly owned train operating company, a subsidiary of Transport for Wales (TfW), a Welsh Government-owned company. It commenced operations of the day to day services of the Wales & Borders franchise on 7 February 2021, as an operator of last resort, succeeding KeolisAmey Wales. Transport for Wales Rail manages 248 National Rail stations, including all 223 in Wales, and operates all passenger mainline services wholly within Wales, and services from Wales, Chester, and Shrewsbury to Liverpool, Manchester, Manchester Airport, Crewe, Birmingham, Bidston and Cheltenham.