No-frills airline hit tunnel trade
Channel Tunnel operator Eurotunnel carried fewer cars and coaches on its shuttle trains last year than in 2003.
The company’s trading update for 2004 published yesterday reveals 2.1 million cars made the crossing, down eight per cent on the year before.
The number of coaches, 63,467, was also down 12 per cent on 2003.
Lorry trade remained roughly the same but the drop in car and coach business caused the company’s shuttle revenue to drop by seven per cent to £285 million. Overall operating revenue was also down, four per cent lower at £538 million.
Eurotunnel chief executive Jean-Louis Raymond blamed the drop on rival no-frills airlines. He said: “The cross-Channel market has remained difficult for all operators, as it has for Eurotunnel.
“The improvement in Eurostar traffic over the last year has certainly been encouraging, but competitive pressure remains strong and the impact on the market of the development of ‘no-frills’ airlines is being felt ever more strongly.
“Making sure that Eurotunnel remains competitive in the future has required a radical change in commercial policy. A new commercial strategy has been in place in the truck business since January 1 and a new passenger strategy will be launched in time for the summer.”
Report by News From Abroad
Ginny McGrath
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