Latest Rail News

24.06.16

Eurotunnel maintains commitment to ‘constantly improving’ service despite EU vote

The historic vote for the UK to leave the European Union will not affect Eurotunnel services, the company has vowed.

In a statement, the Eurotunnel Group said that the Channel Tunnel Concession would be unaffected by the referendum result, with 52% of voters in favour of leaving the EU in yesterday’s referendum, as reported in RTM’s sister title Public Sector Executive.

The group said the tunnel was established by a treaty between England and France rather than the EU, and border security will remain unaffected for the time being because the UK is outside the Schengen area.

Jacques Gounon, chair and CEO of Groupe Eurotunnel SE, said: “The Channel Tunnel fixed link was established with an international treaty between two sovereign states. Our Anglo-French vocation is to offer our customers a constantly improving and more competitive transport service. I am confident that we will achieve our goals.”

The group also said that Eurotunnel’s important role in British-European transport links, with 21 million people using it every year, meant that “its value and practicality are exceptional, particularly in the current geopolitical context”.

Since the result, sterling has fallen by more than 10% to $1.33 against the dollar, and £120bn has been wiped off the FTSE 100.

However, the Eurotunnel Group said that the negative effects of a fall in the value of sterling would be offset by an increase in costs for maritime competitors and support for British exports.

(Image c. AP Photo/Michel Spingler)

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