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The company aims to create a high-frequency link and position the project as the first direct rival to Eurostar after 30-year dominance. Virgin Group intends to establish a network linking London to Paris and Brussels, with plans for future expansion to Amsterdam, according to FT. The launch of the project is anticipated for 2029. The company plans to obtain part of the funds - £300 million - through shares, while £400 million will come from debt.
According to the FT, Getlink, the owner of the Channel Tunnel, has streamlined safety regulations and provided €50 million in subsidies to motivate businesses to establish a rail connection across the Channel. Nonetheless, among the challenges the company might encounter, the newspaper highlights the acquisition of trains that need to comply with safety regulations for traversing the Channel Tunnel and securing space at busy stations.
Phil Whittingham, the leader of rail initiatives at Virgin Group, acknowledged that establishing a rail connection across the Channel would present a ‘significant challenge’. ‘However, we think Virgin is precisely the ideal brand to signal a new age of travel across the Channel,’ he informed the newspaper.
source: ft.com
According to the FT, Getlink, the owner of the Channel Tunnel, has streamlined safety regulations and provided €50 million in subsidies to motivate businesses to establish a rail connection across the Channel. Nonetheless, among the challenges the company might encounter, the newspaper highlights the acquisition of trains that need to comply with safety regulations for traversing the Channel Tunnel and securing space at busy stations.
Phil Whittingham, the leader of rail initiatives at Virgin Group, acknowledged that establishing a rail connection across the Channel would present a ‘significant challenge’. ‘However, we think Virgin is precisely the ideal brand to signal a new age of travel across the Channel,’ he informed the newspaper.
source: ft.com
