Stock

The Eurostar crisis continues with its future in balance

Uncertainty continues around the Euro star as it is only only making one trip a day, due to COVID19 restrictions.

With advanced talks to secure funding from the UK and France in order for it to get through the CIVID19 crisis. Though the acknowledgement of its importance by both the UK and Europe it has taken a looming cash crunch to get both parties on the same table.

The Eurostar is owned by the French and Belgian railways plus two international investment houses, which bought Britain’s 40 per cent stake in Eurostar’s parent company in 2015. The nationalized French railway SNCF has the largest share, with 55 per cent.

Though the UK having no involvement in the stats mentioned, the Euro star provides a vital, low carbon link between the UK and mainland Europe. The Eurostar in addition is a registered UK registered company with its head office in London it furthermore supports over 3000 jobs as a consequence.

Though no support of the British taxpayers so far, the Euro star contributes £800 million each year to the UK economy. With trips from London to Paris, Brussels and Amsterdam with 80-90 per cent less greenhouse gas emissions per passenger than the equivalent short-haul flights.

Though there is clear and strong case for the maintenance of this physical connection between the UK and Europe with its overwhelming evidence of benefit. It is unclear who’s court the ball is in, the UK has left the European Union and has stated that it is not a British company with France having a majority ownership of the service. Garnering a strong feeling in Westminster that financial commitment should not be led by Paris.

With both nations working on roadmaps out of lockdown and looking to recover from the economic setbacks endured. Demand is inevitable to return for the Eurostar but how that will be served is yet to be revealed.

RTM OCT/NOV 21

RTM OCT/NOV 21

Delivering High Speed Two

Our October/November 2021 edition of RTM is packed with insights and visions for a future UK railway which is safe, efficient, and resilient. We delve into the restoration works at Bristol Temple Meads station with Maxine Prydderch, learn from Orlando De Leon about an innovative new piece of technology, and explore with HS2 Ltd’s Director of Stations & Systems, Chris Rayner, some of the successes already seen on HS2. That and so much more is available within the digital pages of our latest edition, so jump in and explore…

 

 

Videos...

View all videos
Regional Investment

RTM365 Online Festival

Regional Investment
9 December 21

The rail industry is undergoing a once-in-a-generation transformation with railways about to undergo the most significant transformation in 25 years.

We will be able to provide a more dependable and well-connected passenger first railway as a result of the network improvement. But what does this entail for individual locations in terms of investment?

On the 9th December, RTM365 will bring together leaders from each of the UK regions at our next instalment of virtual events to get the answer to these questions and learn more about regional rail investment, major projects and the effect of the upcoming Great British Rail transition.

Podcast

The Green Rail Revolution

Maria Machancoses, Director of Midlands Connect discusses the importance of HS2 to the Midlands and the UK, their collaborative work with the Department for Transport, and how we need to embrace the railways again.

More articles...

View all