"The ORR's decision is the right one for consumers - it's time to end this 30-year monopoly and bring some Virgin magic to the cross-Channel route,"
"Virgin is no stranger to delivering award-winning rail services, and just as we have successfully challenged incumbents in air, cruise and rail, we're ready to do it again. We're going to shake up the cross-Channel route for good and give consumers the choice they deserve."
The Office of Rail and Road (ORR) approved Virgin Group's bid to use the Temple Mills International rail depot in East London, clearing a key barrier to entry for cross-Channel services. The approval enables Virgin to compete directly with Eurostar on the Channel Tunnel route, introducing the first serious competition in three decades. Virgin confirmed a funding consortium including Equitix and Azzurra Capital, with Equitix financing the train fleet and Virgin leading operating company funding. Virgin also signed an exclusive deal with Alstom to purchase 12 Avelia Stream trains, renewing a partnership associated with the Pendolino fleet.
Read at Business Matters
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