Trenitalia’s bid for Paris–London high-speed rail by 2029 gets investors’ backing
Trenitalia’s long-term ambition to operate high-speed passenger trains between Paris and London by the end of the decade has gained momentum following a strategic investment deal with global travel-focused investment firm Certares.
Certares is a global investment firm founded in 2012, specializing in the travel, tourism, and hospitality sectors with assets of US$7 billion.
Italy’s state-owned rail group FS Group confirmed that the partnership, signed on December 29, includes financial backing for its US$1.18 billion European high-speed rail expansion program. Central to that strategy is the proposed launch of a Paris–London service via the Channel Tunnel by 2029. It will then position Trenitalia in direct competition with established operators on one of Europe’s most heavily traveled rail corridors.
The agreement provides for the creation of a joint venture between FS Group and Certares, designed to accelerate the growth of Trenitalia France in France, the UK, and other cross-border markets. The new capital will be used to strengthen Trenitalia’s position as France’s second-largest high-speed rail operator.
Trenitalia France currently operates domestic high-speed services linking Paris with Lyon and Marseille, alongside international trains between Paris and Milan. Since entering the French market, the operator has steadily increased frequencies. In 2025, Trenitalia transported 1.8 million travelers in France on its network (Paris-Lyon, Paris-Marseille, Paris-Milan), doubling the number from 2024. The rail company is totaling 4.7 million passengers since its arrival in 2021 but is still losing money on its French network.
Paris–London ambitions
According to FS Group, the expansion plan includes increasing the fleet to at least 19 train-sets, building a new maintenance facility in the Paris region, and ramping up services to as many as 28 daily round trips between Paris and Lyon. The company also expects to create hundreds of new jobs while continuing to invest in technology, brand development, and new digital tools for its clients.
Details were recently given by Trenitalia France CEO Marco Caposciutti for the future Paris–London services in 2029.Caposciutti highlighted that the company aims to operate up to 10 daily round trips between the two capitals. Services would be run by Trenitalia France using 10 2nd-generation Hitachi Rail ETR400 high-speed train-sets, maintained at the planned Paris servicing hub. The UK would be the fourth country in Europe where Trenitalia operates high-speed trains.
Trenitalia is effectively also present in Spain since 2022. Under the brand iryo run by ILSA Constortium (Trenitalia and Air Nostrum), high-speed trains circulate between Madrid-Barcelona, Madrid-Valencia/Alicante and Madrid-Malaga/Seville.
Related News Stories: Virgin Trains to challenge Eurostar on London-Europe rail services
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