Eurostar International Limited
|Key people||Nicholas Petrovic (CEO)|
|Revenue||£857 million (2013)|
|Operating income||£54 million (2013)|
HM Treasury (40%)
Eurostar International Limited (EIL) is the parent company of Eurostar, operating train services between London, Paris and Brussels. Eurostar was previously operated by three separate companies in Belgium, France and the United Kingdom, but this structure was replaced by EIL as a new single management company on 1 September 2010. EIL is owned by SNCF (55%), HM Treasury (40%) and SNCB (5%).
Eurostar International was formed in 1990 as European Passenger Services (EPS), as the division of British Rail responsible for the UK section of the Eurostar operation. Eurostar trains began operating on 14 November 1994, with EPS, SNCB and SNCF were each responsible for the running of Eurostar services in their own territory.
The privatisation of British Rail saw ownership of EPS transferred to London and Continental Railways (LCR) in 1996. This was part of the contract agreed with the Government of the United Kingdom for LCR build and operate High Speed 1 (HS1) between London and the Channel Tunnel. The company was renamed Eurostar (UK) Limited (EUKL) and was to use the income from EUKL to help finance the HS1 project.
Following financial assistance from the government in 1998, LCR was forced to appoint a management contract for EUKL. Bids for the contract were submitted by Virgin Rail Group and Inter-Capital and Regional Rail, a consortium of National Express (40%), SNCF (35%), SNCB (15%) and British Airways (10%). The latter was awarded the contract which was to run from 1998 until 2010.
In January 2009, after the completion of HS1, the UK's Department for Transport took control of LCR and announced its intention to put both HS1 and EUKL up for sale. Deutsche Bahn expressed an interest in EUKL but no sale materialised.
On 31 December 2009, EUKL was renamed Eurostar International Limited. On 1 September 2010, the three national Eurostar operators merged into EIL as a single company with a single management structure. Following this change, the ICRR management contract for the UK business was terminated. Once all Eurostar assets were transferred to EIL, the holdings in the company were amended to LCR (40%), SNCB (5%) and SNCF (55%).
LCR sold HS1 in November 2010 to a Canadian consortium of Borealis Infrastructure and Ontario Teacher's Pension Plan for £2.1bn. EIL now pays access charges to the consortium to operate Eurostar trains on HS1.
EIL is the owner of 38 Class 373 sets. These consist of 31 Three Capitals Eurostar trains (2 power cars with 18 passenger carriages) and seven North of London Regional Eurostar trains (2 power cars with 14 passenger carriages).
- Companies House extract company no 2462001 Eurostar International Limited formerly Eurostar (UK) Limited formerly European Passenger Services Limited
- Winsor, Thomas P (6 March 2003). "Judgement". Network Rail Infrastructure Limited -v- Eurostar (UK) Limited (Office of Rail Regulation): 2–3. http://www.accessdisputesrail.org/Old%20ADRC%20Web/TTC%20Determinations/ttc132%20Regulator%27s%20appeal%20determination.pdf. Retrieved 24 May 2012.
- Eurostar restructure sees UK expand rail stake
- Deutsche Bahn says interested in Eurostar stake Reuters 14 January 2009
- National Express Group plc Annual Report and Accounts 2010
- Behind the Scenes Eurostar
- Eurostar restructuring completed Railway Gazette 2 September 2010
- HS1 Sale Completion London & Continental Railway
- High Speed 1 concession awarded to Canadian pension consortium Railway Gazette 5 November 2010
- Eurostar: Government's 40% Stake Up For Sale Sky News 4 December 2013
- UK government contemplates sale of LCR assets & Eurostar stake Railway Gazette 4 December 2013
- East Coast rail shortlist revealed BBC News 17 January 2014
- InterCity East Coast franchise shortlist announced Railway Gazette 17 January 2014
- "House of Commons Hansard Ministerial Statements for 19 Jun 2014 (pt 0001)". UK Parliament. House of Commons. Retrieved 3 October 2014.