FS Group has announced a major strategic partnership with global travel investment firm Certares, aimed at strengthening its international high-speed rail operations. The collaboration will initially focus on Trenitalia France and includes backing a €1 billion investment plan spanning France and the United Kingdom.
The agreement provides for the creation of a joint venture and includes significant investment in Trenitalia France to accelerate growth and consolidate its presence in France, the UK, and cross-border markets. Headquartered in Paris, Trenitalia France currently operates high-speed passenger services on the Paris–Lyon and Paris–Marseille routes, as well as the cross-border Paris–Milan route. The operator has already served more than 4.7 million passengers and boasts industry-leading customer satisfaction. Looking ahead, the company plans to expand its network significantly, including entry onto the Paris–London route and additional cross-border services.
To achieve this, Trenitalia France will deploy new investment capital to consolidate its position as France’s second-largest high-speed rail operator. Key initiatives include expanding the fleet to at least 19 trainsets, developing a new maintenance facility near Paris, increasing frequencies on existing routes (up to 28 daily circulations on Paris–Lyon), creating hundreds of new jobs, continuing investments in technology, brand, and marketing, and expanding international services to the UK via the Paris–London route by 2029.
The partnership is expected to accelerate the shift toward rail travel among both corporate and leisure travellers. Trenitalia France plans to collaborate with Certares’ portfolio companies to support corporate clients in their move toward high-speed rail as a greener, reliable, and cost-effective alternative to air travel. Rail travel offers several advantages: reliable Wi-Fi connectivity, city-centre-to-city-centre convenience, enhanced comfort, and the ability to work efficiently while in transit—boosting productivity for business travellers. In parallel, Trenitalia France and Certares aim to promote rail-inclusive itineraries for leisure travellers, integrate booking and dynamic packaging tools, and encourage millions of travellers to choose rail as their preferred mode of transportation.
Certares brings a robust presence in travel distribution across France and the UK through investments in American Express Global Business Travel (including CWT, Ovation, and Egencia), Marietton Développement (including Havas Voyages and Selectour), Voyageurs du Monde (including Original Travel), and Internova Travel Group (including Barrhead Travel). As part of the partnership, Certares will facilitate arm’s-length commercial agreements focused on product distribution between Trenitalia France and its portfolio companies.
This initiative supports FS Group’s 2025–2029 Strategic Plan, which calls for accelerated international growth through collaboration with leading financial and industrial partners. It also strengthens FS International—the division responsible for passenger operations outside Italy—which currently accounts for approximately €3 billion in net revenues and employs 12,000 people. By combining FS and Trenitalia France’s operational excellence with Certares’ global travel distribution network, the partnership aims to position France, the Paris–London corridor, and future territories included in the joint venture as showcases for the future of sustainable European travel—benefiting customers in France, the UK, and beyond.
Image credit: Tancredigroup
