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#11
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Opinions on trains and planes.
"Keith Willshaw" wrote in message ... "tim....." wrote in message ... "Keith Willshaw" wrote in message ... "tim....." wrote in message ... The Chunnel surely has surpassed all expectations, hasn't it? In losing money, yes As it happens current traffic levels are pretty much in line with the estimates, the problem is that it ramped up much more slowly than predicted and building and financing costs were much higher. The problem is that those traffic levels were predicted at fares expected to be 4 times those being charged. Thats part of the story, the predicted revenues were based on the fares currently being charged by the ferries. As a result of the competiton Eurotunnel introduced the ferry companies had to radically reduce their own fares to survive. This resulted in a price war which hurt both ferry operators and Eurotunnel P&O lost 23% of its business in the first year that Eurotunnel operated and had to merge with arival company. Other operators such as Sally Lines and Oostende Lines went bust. Entire routes such as those from Folkestone and Ramsgate as well as the hovercraft routes were abandoned completely The Eurotunnel business plan envisaged this (route consolidation) happening anyway, but still expected to charge 300 pounds per car for a round trip. tim |
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