Virgin Group to Challenge Eurostar with New Rail Services

Richard Branson's Virgin Group intends to launch cross-channel rail services to rival Eurostar, aiming to raise 700 million pounds to fund the project. The service plans to connect London with Paris, Brussels, and Amsterdam. Virgin seeks 300 million in equity and 400 million in debt, with potential launch by 2029.

Richard Branson's Virgin Group announced plans to launch cross-channel rail services aiming for competition with Eurostar. The company targets raising 700 million pounds to fund this ambitious project.

Plans include connecting London with major European cities such as Paris, Brussels, and eventually Amsterdam. Virgin is seeking to secure 300 million pounds in equity and an additional 400 million pounds in debt to support the venture.

The high-frequency service could debut by 2029, threatening Eurostar's longstanding dominance. A Virgin spokesperson highlighted the route's potential transformation and Virgin's strategy to partner with like-minded investors. Eurostar cautiously welcomed the competitive development, emphasizing Europe's growing demand for rail travel.

(With inputs from agencies.)