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Eurotunnel announces improving traffic levels

2:52pm GMT, Monday, 19 July 2010

Eurotunnel has stated that it has experienced a boost in traffic using the channel tunnel. Eurotunnel has stated that it has experienced a boost in traffic using the channel tunnel.

The channel tunnel operator, Eurotunnel, has released its latest financial results, showing a significant growth in traffic activity in the past six months.

Eurotunnel experienced increases in traffic for all the Eurotunnel shuttles, with a growth of 41% for truck shuttles and a 17% rise in car shuttles. Coach shuttles also increased by 8%.

Traffic on the Eurostar has also seen a boost, with a 6% increase in activity compared with the same period last year.

The company’s revenues also grew by 22% compared to the first six months of 2009. Revenues of shuttle services and the railway network grew by 17% and 5% respectively.

However, the firm also stated it made a loss of €45 million (£54m), partly due to an insurance dispute.

Eurotunnel are waiting on €43m that it is seeking in indemnities for losses resulting from the fire in September 2008.

Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel SA, said: “I am pleased that traffic and revenues have both increased in the current economic crisis. However, if our insurance payments remain blocked, we shall be unable to declare a profit this year.”

Categories:
Business, Europe, Finance, Travel & Tourism
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