United Kingdom
United States
Asia Pacific
Eurotunnel cuts half-year losses
Channel Tunnel operator Eurotunnel saw first half losses cut by 18% to £87 million.
The troubled company, which is planning a financial restructuring, saw shuttle service revenue rise 6% to £146 million in the first six months of the year.
Eurotunnel carried 951,561 cars in the period, a rise of just one per cent on the first half of 2004.
The company admitted: “The progression recorded in the quarter of 2005 did not continue into the second quarter; first quarter traffic benefited from the operational difficulties at the Port of Calais, and the fact that Easter fell in the first quarter of 2005.”
The number of coaches carried rose by 34% year-on-year to 39,831, while passengers carried by Eurostar through the Channel Tunnel rose by 8% in the first half of the year.
Eurotunnel chairman Jacques Gounon said a progess report on the financial restructuring was expected to be provided next month after a period of confidential negotiations.
He said: “Eurotunnel has accelerated improvements in its operational performance. Increased revenue in our core shuttle business has been achieved within the framework of a new marketing strategy based on our key benefits: frequency, speed and reliability.
“We expect to consolidate the three per cent reduction in operating costs in the second half. This will be achieved by more closely aligning capacity with demand, and by further reductions in staff costs as the first voluntary redundancies take effect.”
Report by Phil Davies
Phil Davies
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel
Foreign Office issues travel advisory for winter sun destinations