Virgin Aims to Raise £700mn to Launch Cross-Channel Rail Service

Virgin Group is gearing up to challenge Eurostar’s long-standing dominance in cross-Channel rail travel by launching its own service. The company intends to raise £700m, combining £300m in equity with £400m in debt, to establish high-frequency routes connecting London to Paris, Brussels, and potentially Amsterdam. Virgin’s move comes as part of a broader effort to enhance competition in the market and deliver a more attractive alternative to Eurostar, which has held a near-monopoly for three decades.

In parallel, Getlink and London St Pancras Highspeed are collaborating to boost service capacity between Britain and continental Europe. However, both Virgin and Spanish rail company Evolyn face challenges, including disputes over depot access in east London, that could affect the rollout of new services. Despite these hurdles, Virgin is actively seeking investment partners and aims to position itself as a key player in the evolving cross-Channel rail landscape.