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Eurostar Ridership Slumps 95%, Forcing U.K. and France to the Rescue Bloomberg 1/21/2021 Tara Patel and Tim Ross
(Bloomberg) France and the U.K. are negotiating an aid package for Eurostar International Ltd. after the coronavirus crisis wiped out 95% of the Channel Tunnel train operator’s passenger traffic.
One option under discussion could see the Bank of England provide funds from its Covid loan facility as part of the U.K. contribution, according to a person familiar with the matter who asked not to be identified. The person said the train operator is eligible despite French government majority ownership.
Talks are centered on support that reflects the interests of both countries, French Transport Minister Jean-Baptiste Djebbari told a parliamentary committee on Thursday. France controls Eurostar via state railway SNCF, but the firm is based in London and seen as important to the British economy.