Published On: Sat, Jan 23rd, 2021

Eurostar bailout news: Boris told to buy out rail giant and rename it Britstar | Politics | News

[ad_1]

The ailing franchise has been battered by the pandemic, with Tory MP , who chairs Parliament’s Transport Committee, this week warning traffic had fallen by more than 95 percent. , director of the pro-Brexit , suggested a solution which was both drastic and simple.

He told Express.co.uk: “It needs to be saved. But we must take back control from the French.”

Proposing a push to acquire the service, he added: “We can call it Britstar – or Brit Tunnel.”

Speaking on Wednesday, Mr Merriman was rather more cautious, saying: “Services have been stripped back to a bare minimum.

“It needs a joint, bespoke UK-French solution to help it through this crisis.”

Eurostar is operated by Eurostar International Limited (EIL), with SNCF, the national railway of France SNCF, owning a 55 percent stake.

Investors own 40 percent and the National Railway Company of Belgium five percent.

JUST IN: Royal POLL – was Prince Harry right to speak out on US Capitol riots?

“We are discussing with the French and English governments.

“We hope to arrive at a solution to aid the company.”

Yves Crozet, a transport economist at the University of Lyon in France, told the Transport Committee: “I suppose that the French government will support Eurostar, but not alone.

“We will have probably an arm-wrestling between the UK and France about that.

“But clearly Eurostar is a subsidiary of SNCF and SNCF has the majority of the capital.

“So clearly the money will come from France in a very important part but maybe France will ask the UK to give also some hand to the system.”

John Keefe, the director of public affairs with Getlink, the Paris-based company which actually owns the Channel Tunnel, said this week: “In the long term, Eurostar is the transport of the future: fast, frequent, low carbon and with great potential to expand to other destinations.

“Their business and leisure passengers will be back as soon as conditions allow.”

Conor Feighan, secretary-general of the European Rail Freight Association, suggested a solution was urgently needed.

He explained: “We don’t really see any positives to take from Eurostar struggling because if anything, it will call into question the long term viability of further development of the tunnel.”

[ad_2]

Source link

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>