Virgin Group is looking to deliver some tough competition to Eurostar with its latest rail project — and it could see us getting an alternative cross-Channel option in just a few years’ time.
Sir Richard Branson recently announced plans to raise £700million to fund a new train service connecting UK passengers with Paris, Brussels, and potentially Amsterdam later on.
Having previously operated trains around Britain between 1997 and 2019, Virgin is now keen to get back on the tracks, looking to become Eurostar’s first direct rival in 30 years with a high-frequency service along the same route.
The company shared aspirations to raise £300m in equity and £400m in debt to fund the project, claiming it plans to be the ‘cornerstone equity investor’ by providing a chunk of the initial funds required.
A spokesperson said of the developments: ‘The cross-channel route is ripe for change and would benefit from competition.
‘While Virgin is not committing to launching a service just yet, we are seeking investment from like-minded partners to invest alongside Virgin, and we are delighted with the progress made so far.’
Despite ideas still being in their infancy – with the company saying in a statement it is ‘not committing to launching a service just yet’ – a Financial Times report claims the hope is to launch as soon as 2029.
Alongside improving choice for passengers, Metro understands that Virgin’s aim is to inject some joy into their journey across the Channel, which suggests the onboard experience itself will be a priority for the firm.
In an effort to win over Eurostar customers, they’ll also be sweetening the pot, with bookings connected to its Group-wide rewards programme, Virgin Red.
Of course, the project will be no small feat, as getting a service like this up and running poses a range of challenges. For one, Virgin Group will need to ensure its trains are compatible with the Channel Tunnel’s safety rules. There’s also the matter of space in overcrowded stations to contend with.
Setting up the service will be a ‘huge undertaking,’ admits Phil Whittingham, a rail project lead at Virgin Group.
However, he adds: ‘We think Virgin is the right brand to signal a new era in cross-Channel travel.’
It comes after a collaboration agreement between the Channel Tunnel operator Getlink and London’s St Pancras railway station to increase the number of services running between Britain and France, and also to open up routes to Germany and Switzerland.
Last month, it was reported that St Pancras station hopes to triple peak time passenger numbers, taking the amount from 1,800 to 5,000 per hour.
And Eurostar is hot on the tracks of its potential competitors, already taking steps of its own to expand.
Last year, it revealed plans for up to 50 new trains and more international services to tap into the ‘huge demand’ for rail travel throughout Europe.
Gwendoline Cazenave, chief executive of the train operator, said the ‘race’ was on to increase capacity, having become one of the continent’s biggest high-speed rail operators.
But more Eurostar trains threaten to thwart Virgin Group’s proposals before the cash has even been raised for them, as it means limited depot space.
Both Virgin and Evolyn have previously argued they would struggle to secure funding or order trains for a new service without access to the depot.
Consequently, the operators have asked the rail regulator to intervene.
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