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Britain will not throw a lifeline to Eurostar

The British government, led by Boris Johnson, is not setting a lifeline in Eurostar, saying the company’s shareholders should help the companies, Financial times.

Eurostar is on the brink of bankruptcy after passenger numbers collapsed last year due to the pandemic.

A local official put it this way:

The tunnel and the railroad cars remain with the company. Someone will take them even if the company is against the wall. In no way do I want to save taxpayers’ money.

Eurostar railway train

Eurostar is required to repay a total loan of 400 million pounds (169 billion HUF) by June, but the railway company may request an additional delay.

He writes for the Financial Times.

The company asked the British government for help in January, citing a 95 percent drop in rail traffic in 2020 due to the pandemic.

However, according to the UK, it is not for them, but for France and private investors, to shine a spotlight on a company that is in difficulty. However, the French are also reluctant to take the first step on this issue.

The British gave up their stake in Eurostar in 2015, and since then France has owned 55 per cent of the railway company, while Belgium has owned 5 per cent along with private investors.

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