Train company Virgin strikes fresh agreement to rival Eurostar service
Virgin Trains, the UK's rail operator known for its services on the West Coast Main Line, has submitted a proposal to the Office of Rail and Road (ORR) for permission to operate train services on HS1. The proposal, if approved, aims to challenge the existing high-speed network, connecting the UK with various European countries.
The project, valued at an estimated £700 million (€820 million), will be funded by a unique partnership. Sir Richard Branson, Virgin's founder, has announced a goal to raise standards, spark innovation, and provide a better travel experience. The capital for the project will consist of a 50% stake from Virgin, with the remaining 50% split between two unnamed institutional investors.
The new venture, led by Phil Whittingham, the former CEO of Virgin Trains UK, will focus on expanding operations deeper into France, Germany, and Switzerland. To facilitate this growth, Virgin has secured an exclusive deal with Alstom for 12 Avelia Stream high-speed trains.
The Avelia Stream is the latest version of the Pendolino tilting trains that Virgin used on the UK's West Coast Main Line 20 years ago. These trains feature flexible boarding heights, winter weather protection, and active tilting technology, enabling them to reach speeds between 200 and 297 km/h.
Virgin's proposal includes new services from London St. Pancras to Paris, Brussels, and Amsterdam. If approved, the new venture will challenge Eurostar's high-speed network, offering passengers faster and more efficient travel options.
In its submission, Virgin has expressed readiness to challenge incumbents, including in the rail sector. The company also forecasts two separate companies: one for operations and one for stock asset management.
The decision regarding Virgin's project is expected in October, according to a Virgin spokesperson. If successful, this venture promises to revolutionise high-speed rail travel, connecting the UK with Europe like never before.
However, the identities of the two institutional investors who hold a 50% share of the project remain undisclosed, as they are not explicitly identified in the available sources. Despite this, the commitment and capability of Virgin Trains in delivering for consumers on the cross-Channel route are evident in their recent submission.
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