Is Eurostar making money?
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 is Eurostar not going to Amsterdam?
That's because in 2024 the oh-so-convenient Eurostar service from London to the Dutch capital will be stopping for up to 11 months. The closure is down to huge renovation work being carried out at Amsterdam Centraal from June 2024 to May 2025.
Does Eurostar have its own tunnel?
Yes, Eurostar use LeShuttle's tunnel. The Channel Tunnel (sometimes referred to as the 'Chunnel' for short) is the longest undersea tunnel in the world at 38km long. It is made up of three tunnels, each 50km long, that link Folkestone in Kent to Calais in France.
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.
Has Eurotunnel made a profit?
It reported pre-tax profits for the first half of the year of €52 million, a reversal of the losses of €127 million it reported in the first six months of 2021. Last year losses totalled €237 million on top of a €119 million deficit in 2020.
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 is Eurostar stopping going to Disney?
Eurostar will no longer operate its direct train service between London and Disneyland Paris from 5 June next year. The company said it wanted to focus on its core routes, including London - Paris and London - Brussels, as it recovers from the impact of the COVID pandemic and faces the consequences of Brexit.
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 Eurostar make 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 the Eurotunnel a financial success?
Financing Eurotunnel. Eurotunnel is the largest privately- financed infrastructure in history by a long way. In what it has achieved it has been a stunning success—in its current financial situation it is obviously also a failure at this stage if measured by return on investment.
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.
Why is Eurostar so popular?
The pairing of European capital cities London and Paris is popular for travelers. Suggest clients take the high-speed train Eurostar as a convenient, sustainable, quick way to get the most out of their time exploring both cities.
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.
Is Eurostar in financial trouble?
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.
Why is Eurostar losing money?
The two clear agents of doom for Eurostar were Covid and Brexit – the pandemic almost killing the service entirely in 2020 when international travel was all but banned; and Britain's exit from the EU making stations unviable due to the lack of capacity for increased border requirements.