Get 290 Million Euro Splash, Eurostar Train Network Speeds London-Paris-Amsterdam Services
JAKARTA - Having been adrift due to the impact of the COVID-19 pandemic, the fast train service connecting Britain with France, Belgium and the Netherlands via the Eurostar Channel Strait Tunnel is ready to step on the gas again next summer.
This is possible, along with the good news from the negotiation of a financing agreement, which has the potential to get Eurostar a fresh cash flow of 290 million euros to restore its services.
In a statement released by Euronews Tuesday, May 18, Eurostar announced that it had reached a refinancing agreement with its shareholders and bank guarantor.
"The £ 250 million (290 million euro) refinancing package consists primarily of additional equity and a loan from a syndicated bank guaranteed by the shareholder of SNCF, the French state rail group and the majority shareholder of Eurostar, Patina Rail LLP, backed by Caisse de dépôt. et placement du Québec and a fund managed by the Infrastructure team of Federated Hermes, SNCB and the Belgian state rail operator, "the statement read.
"Everyone at Eurostar is encouraged by the strong support from shareholders and banks, which will allow us to continue to provide this important service to passengers. The refinancing agreement is a key factor enabling us to improve our services, as the pandemic situation begins to improve," he said. Eurostar CEO Jacques Damas.
The COVID-19 pandemic and travel restrictions from last year to the beginning of this year, caused the number of Eurostar passengers to fall by 95 percent, hitting the finances of this cross-channel rail service company.
"With this support package, Eurostar will be able to continue to operate this service, fulfilling its financial obligations in the short to medium term. The focus is immediately on restoring travel demand on core service routes between London and Paris, Brussels and Amsterdam," the statement said.
Eurostar added that it would increase the number of trains on the London-Paris route to two daily round-trip services starting May 27. As well as three services per day starting at the end of June, with the aim of gradually increasing frequency during the summer period, along with the easing of travel restrictions.