Is Eurostar in debt?

Is Eurostar in debt? Strong cash generation has enabled Eurostar Group to repay €127m of debt and at the end of December 2022, total debt stood at €964m. We have turned the page on the COVID crisis and are now moving towards a new chapter of building the new Eurostar Group, bringing Eurostar and Thalys together”, says Gwendoline Cazenave.

Is the Eurostar no longer going to Disney?

Eurostar announced Tuesday that it will stop direct trains from London to Disneyland Paris as of June 2023, blaming the coronavirus pandemic and Brexit.

Why is Eurostar now so expensive?

It depends which trains and what times you are looking at - Eurostar is very expensive in times of high demand because the cheap tickets get snapped up but can be relatively affordable if you choose less popular times. Sad Sprinter said: I kind of wish it was nationalised and subsidised to have cheaper fares.

Is Eurostar making money?

The Eurostar Group, the merger of high-speed train operators Thalys and Eurostar, transported 14,8 million passengers last year and posted a turnover of over 1,53 billion euros, two and a half times more than a year earlier. As a result, profit before Ebita reached a record level of 332 million euros.

Why did the UK sell Eurostar?

But the NAO report showed that Eurostar's profits were forecast to increase significantly from 2016, when new, higher-capacity trains will be brought into service. Although the government thought higher profits could increase the price tag, it decided to sell to avoid uncertainty and risks.

What is the future of Eurostar?

We will continue striving to reach our target of carrying 30 million passengers by 2030. The most growth on Eurostar Group routes is between London and the Netherlands and between Paris and Amsterdam. Particularly on the London-Netherlands route, volume has more than doubled compared to the pre-Pandemic period.

Is Eurostar to Paris closing?

This is soon the end of a beautiful adventure. Eurostar train company announced they were to stop direct trains between London and Disneyland Paris starting from the summer 2023.

Why are they stopping Eurostar?

But then, why has the Eurostar train company decided to stop the famous service, coveted by many British people? The company points out financial issues caused by the covid-19 pandemic and new logistics related to Brexit.

Why are there no dogs on Eurostar?

Eurostar is not registered as a carrier of pets and therefore, we're unfortunately unable to make any exceptions. We do, however, allow guide and assistance dogs to travel with their owners and request that customers contact us at least 48 hours in advance of travel to make a request.

What went wrong with Eurostar?

By 2018, 11 million journeys per year were being made – but two years later the pandemic struck and Eurostar came perilously close to closure. With demand shrinking by 95 per cent, the company struggled to stay afloat, in part due to a spider's web of governance that made it hard to access emergency funding.

Does Eurostar have a monopoly?

The Eurostar monopoly for the potentially lucrative London and Paris trade faces a challenge from a name that will be familiar to British readers: National Express. To all the prosaic names associated with the Channel Tunnel, there is one more waiting in the wings.

Does the Eurostar ever stop in the tunnel?

Only 20 minutes of the Eurostar journey is in the tunnel, out of a 2h20 journey time.

Is Eurotunnel making money?

At €1.049 billion, Eurotunnel revenue saw an increase of 63% at a constant exchange rate, a level never before seen for this business. Revenue from the Shuttle business increased by 53% to €732 million compared to 2021, in a context marked by the return of tourist traffic, thus confirming people's appetite for travel.

Has Eurostar ever made a profit?

For a few worrying months, with lockdowns in places and travel quarantines required for most, the high-speed train service was operating a single service a day to Paris and Brussels from London, provided mainly for key workers. In 2019, the last “normal” year of travel, Eurostar recorded a healthy £62.4m profit.

Is Eurostar government owned?

Despite being majority-owned by the French state railway, SNCF, Eurostar was thought to have already exhausted options for governmental assistance from Paris, but both the French transport minister and the UK Department for Transport confirmed they were working on further plans to maintain the service.

Did the UK bail out Eurostar?

The owners of Eurostar have agreed a £250 million bailout with shareholders in the London-Paris-Brussels Channel tunnel passenger train service. The funding gets the British taxpayer off the hook of what could have been an expensive and uncomfortable rescue.

Has the Chunnel made a profit?

While the aviation industry remains in chaos with airports and airlines racking up billions of pounds of losses, the Channel Tunnel has returned to profit. Eurotunnel operates the sub-sea link between England and France, running Le Shuttle trains for cars and lorries.

Is Eurostar a bullet train?

Well, they're not called high-speed trains for nothing. They can reach a top speed of 300 kilometres per hour (that's 186 miles per hour) on high-speed lines in the UK, France, Belgium, Germany, and the Netherlands.