Eurostar aims to steer into profit in 2007

8th November 2004, Comments 0 comments

PARIS, Nov 8 (AFP) - The head of Eurostar, the company that operates train service between France and England under the Channel, said Monday the group should be close to balancing its books by the end of the year and could turn a profit in 2007.

PARIS, Nov 8 (AFP) - The head of Eurostar, the company that operates train service between France and England under the Channel, said Monday the group should be close to balancing its books by the end of the year and could turn a profit in 2007.

"We should finish 2004 close to the break-even point," Eurostar chairman Guillaume Pepy told the newspaper Le Parisien, adding that the goal was to become "profitable from 2007."

He also said "exorbitant" tolls paid to Channel tunnel operator Eurotunnel were to blame for the rail operator's financial losses.

Eurostar, which provides the high-speed train service that links Britain with France and Belgium, posted a loss of EUR 60 million (USD 78 million) in 2003, he said.

Louis Gallois, chairman of the French state railway network SNCF, said Friday on French BFM radio that tolls paid to Eurotunnel would be cut by 20-30 percent from 2006.

© AFP

Subject: French News

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