Eurostar Group

Eurostar Group is a holding company founded by SNCF Voyageurs, Caisse de dépôt et placement du Québec, SNCB, and Federated Hermes Infrastructure in 2022. It aims at merging the operations of Thalys and Eurostar high-speed rail services between France, United Kingdom, Belgium, Netherlands, and Germany.[2]

Eurostar Group
TypePrivate
IndustryHigh-speed rail service
FoundedApril 7, 2022 (2022-04-07) in Saint-Gilles, Belgium
Headquarters
Saint-Gilles
,
Belgium
Area served
France, United Kingdom, Belgium, Germany, Netherlands
Key people
Gwendoline Cazenave (CEO)[1]
Services
Owner
Subsidiaries

History

In September 2019, Eurostar and Thalys shareholders introduced a plan to merge the two companies, a project named Green Speed. Both companies already operate in France, Belgium, and the Netherlands, with Eurostar also operating in the United Kingdom, and Thalys also operating in Germany, and SNCF already owns a majority stake in both of them. The project aims at reducing costs, and at providing a more seamless experience to passengers, with the use of a single ticketing system and loyalty program.[3]

After being delayed by COVID-19 pandemic, the project resumes in October 2021. It is announced that both services would be operated under the Eurostar brand, the Thalys brand being dropped,[4] with current Eurostar service being renamed Eurostar Blue, and existing Thalys service Eurostar Red.[5]

European Commission approved the merger project on 29 March 2022.[6]

In April 2022, the new holding company, Eurostar Group, was established in Belgium. It is owned by the previous shareholders of Eurostar and Thalys, with SNCF retaining its majority stake.[2]

Criticism

The European Passengers’ Federation believes that the merger will give the new company a monopoly position of the market they serve, and lead to higher ticket prices for passengers.[7]

References
  1. "EUROSTAR GROUP LIMITED people". Find and update company information. Companies House. Retrieved 1 July 2023.
  2. "Eurostar, Thalys merge to bring more high-speed rail routes to Europe". Railway Technology. 2022-05-02. Retrieved 2022-05-02.
  3. "Eurostar-Thalys merger proposal revealed". International Railway Journal. 2019-09-27. Retrieved 2022-05-02.
  4. "Eurostar brand to be retained in Thalys merger". International Railway Journal. 2021-10-04. Retrieved 2022-05-02.
  5. "Fusion Eurostar-Thalys : la Commission européenne donne son feu vert". LExpansion.com (in French). 2022-03-31. Retrieved 2022-05-02.
  6. "Eurostar-Thalys merger on track, as EU gives approval". POLITICO. 2022-03-29. Retrieved 2022-05-02.
  7. "'Merger Eurostar and Thalys leads to more expensive train ticket'". RailTech.com. Retrieved 2022-05-02.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.