Eurostar has recorded an impressive 12 percent growth in revenue on the back of better figures reported by the business travel segment.
Revenue from ticket sales were up at £760 million in 2010 from £675.5 million, reported a year earlier. Passenger numbers rose by 3 percent during the period to 9.5 million from 9.2 million, recorded a year earlier.
More people are travelling to destinations in Germany, South of France and the Netherlands other than the usual favourites Paris and Brussels.
“This uplift (in revenue) is due to the continued recovery of the business market that has been a trend through the year as well as growth in the overall number of passengers choosing high-speed rail over plane for short-haul travel in Europe”, Eurostar said in the report.
Indicating that the worst may well be behind, Nicholas Petrovic – CEO of Eurostar said he sees “considerable potential for growth and expansion” in the coming days.
The group will redesign and initiate a complete overhaul of its existing fleet in the current year. It plans to add 10 new trains and the total cost have been estimated at £700 million for fleet expansion and modernization, an announcement in October said.
Eurostar currently enjoys monopoly status and is the only company that runs services through the Channel Tunnel. Come 2013, the German train operator Deutsche Bahn will start direct services between London,Frankfurt and Amsterdam.