Eurotunnel net loss narrows in first half

15th September 2005, Comments 0 comments

PARIS, Sept 15 (AFP) - The French-British group Eurotunnel, which operates the cross-Channel rail tunnel, said on Thursday that its net losses narrowed to EUR 125 million in the first half of the year from the same period in 2004.

PARIS, Sept 15 (AFP) - The French-British group Eurotunnel, which operates the cross-Channel rail tunnel, said on Thursday that its net losses narrowed to EUR 125 million in the first half of the year from the same period in 2004.

The group, which could face bankruptcy in early 2007 unless it restructures its nine-billion-euro debt, said negotiations with three creditor committees had continued throughout the summer.

Eurotunnel chief executive Jacques Gounon said an assessment of the state of the talks would be made at the end of October at the latest.

Operating earnings at Eurotunnel rose 19 percent to EUR 112 million in the January-June period this year, when operating costs were cut by three percent.

Copyright AFP

Subject: French news

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