Eurostar escaped bankruptcy

Financing agreement with its shareholders and banks to avoid impending bankruptcy managed to conclude Eurostar, a subsidiary of the French railway company SNCF.

The company, which also currently operates only one London-Brussels-Amsterdam route per day, should definitely find some fresh money before the end of May – beginning of June to avoid bankruptcy.

Eurostar has suffered a significant drop in its customer base, greater than any other competing European rail or airline, it said in a statement.

One issue facing Eurostar, according to the Athens News Agency, is that in the United Kingdom it is considered a public French company, while in France it is often considered a British company because it is headquartered in London.

So he failed to benefit from direct aid or state-guaranteed loans, unlike the airlines.

The funding found, amounting to 250 million pounds (290 million euros), will allow it to “meet its short-term and medium-term financial obligations,” the company said in a statement.

“The strong financial commitment of the shareholders with the banks is the key factor that will allow us to immediately increase the activity to the extent of the expected improvements in its control. pandemicOf Covid-19, said Eurostar CEO Jacques Dama.

“Destruction is possible,” he told AFP in January.

SNCF Voyageurs President and CEO Christoph Fanisse today welcomed “this refinancing, which is a major milestone in ensuring the survival of Eurostar and travel between Epirus and Britain”.

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