Founded in 1947 as the merger of various railway companies, it operated several suburban rail lines in the Greater Bilbao area.

In 1969, a landslide forced the closure of the Matico–Azbarren line and the relocation of the Bilbao–Lezama terminus out of central Bilbao.

In May 1983, after all the legal difficulties it faced were solved, the board of directors proposed the dissolution of the company, which happened in December that year.

[6] After the merger, the new company inherited the rolling stock owned by its predecessors.

The steam locomotives inherited from the Bilbao–Lezama and Lutxana–Mungia railways were retired soon after the merger, as since 1950 the whole FTS network was electrified.