Virgin Group to Challenge Eurostar with Cross-Channel Rail Launch

The Virgin Group, led by British billionaire Richard Branson, is planning to challenge Eurostar by launching a new cross-channel rail service. The group aims to raise £700 million to fund this initiative, which would offer high-frequency connections between major European cities like London, Paris, and Brussels.

British billionaire Richard Branson's Virgin Group is taking a bold step in the transportation arena by seeking to raise £700 million to fund a new cross-channel rail service. As reported by the Financial Times, this initiative aims to rival the longstanding Eurostar network.

The Virgin Group plans to secure £300 million through equity investment and an additional £400 million in debt. It is setting the stage as a cornerstone investor, with the intent to reintroduce its influence in the rail industry, formerly seen in its intercity services across Britain.

This future rail service will connect major cities such as London, Paris, and Brussels, with potential extensions to Amsterdam. Notably, Eurostar has welcomed this competitive move, recognizing the demand for expanded rail transport in Europe. Virgin's new service is anticipated to launch as soon as 2029.

(With inputs from agencies.)