Following rising passenger numbers and impressive financial results, Eurostar is investing £1.7bn to launch a fleet of up to 50 trains that operate three new direct routes, including two from the UK
Eurostar is ramping up its railway offerings as part of a major €2 billion (approximately £1.7bn) investment.
Earlier this month, the company announced it would launch a fleet of up to 50 trains that will be in service from the early 2030s, operating three new direct routes. The announcement comes after Eurostar released its 2024 financial results, which found it had achieved an impressive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of €346 million (£296 million).
In a press release, Eurostar said passenger numbers rose to over 19.5 million, marking a five per cent year-on-year increase. It follows the ‘successful reinstatement’ of direct services between London, Rotterdam and Amsterdam in February this year, which will see a fourth daily service added from September 9 and a fifth from mid-December.
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In the next decade, Brits will be able to hop on a train at London St Pancras and travel straight to Frankfurt in Germany. This city is known for homing one of the largest financial hubs in Europe, and has become a tourist hotspot in recent years thanks to its stunning architecture, ubiquitous history and close proximity to the ethereal Hohenzollern Castle.
Alternatively, Brits will be able to head directly to Geneva in Switzerland, and marvel at the stunning Mont Blanc in the Alps. Geneva is an excellent base for ski enthusiasts, offering convenient access to a plethora of resorts including Villars, Gryon, and Les Diablerets. The upgrade will also see trains running straight from Amsterdam/Brussels to Geneva.
Eurostar’s CEO Gwendoline Cazenave said the company was witnessing ‘strong demand’ for train travel across Europe, with customers wanting to ‘go further by rail than ever before’. “Despite the challenging economic climate, Eurostar is growing and has bold ambitions for the future,” she added.
“Our new fleet will make new destinations for customers a reality – notably direct trains between London and Germany, and between London and Switzerland for the first time. A new golden age of international sustainable travel is here.”
Transport Secretary Heidi Alexander also welcomed the announcement, describing it as a ‘huge step in promoting green travel across Europe’ as well as boosting the UK’s international rail connections. “Today’s announcement by Eurostar shows that the government’s plan for change is rapidly strengthening the links between major cities in counties across Europe, creating more opportunities to travel, work, and socialise,” the politician said.
Eurostar’s expansion comes as several companies are desperate to gain access to the Temple Mills depot in north-east London, which Eurostar currently monopolises. As previously reported, a report conducted by the Office of Rail and Road (ORR) found: “There is some available capacity at Temple Mills International (TMI) depot for more trains to be stabled, serviced and maintained.”
The investigation is great news for Virgin Group, which says it is now ‘ready to take up the challenge’ of launching high-speed passenger train services through the Channel Tunnel. “The Temple Mills depot is the only facility in the UK which can accommodate European-style trains and claims suggesting it was at capacity have been blocking Virgin from coming to the line,” a spokesperson said. “Virgin is therefore very pleased with the outcome and we thank the ORR for commissioning this report, which will now unlock competition on the cross-Channel route for the benefit of all passengers.”
Alstom, a French manufacturer specialising in locomotives, is also in talks to use its new Avelia Horizon trains to ramp up journeys across Europe. The company has already signed an €850 million (around £715 million) contract to provide and maintain 12 of its double-decker trains for a Proxima, a private operator in France – as well as France’s state-owned company The Société nationale des chemins de fer français (SNCF).
Chief executive Henri Poupart-Lafarge says the new fleet could lower fares and increase capacity in the undersea Channel Tunnel, which connects the UK to France. However, it will first need to seek approval from regulators to make sure it adheres to strict Channel Tunnel safety rules.
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