Latest news with #StefanoAntonioDonnarumma
Local Italy
09-04-2025
- Business
- Local Italy
Italy announces plans for high-speed train route linking Milan to London
State operator Ferrovie dello Stato Italiane (FS Group) said on Tuesday it was planning to launch a London-Paris service in competition with Eurostar by 2029. "In addition to the London-Paris connection, the FS Group is studying further opportunities for the expansion of High Speed in Europe," the group said in a press release published on its website. "Evaluations are underway for possible extensions of the London-Paris service through Lille, Ashford, Lyon, Marseille and Milan," it added. FS Group said it intended to model the trains serving the line on its high-speed Frecciarossa ('red arrow') trains operated by subsidiary Trenitalia. The company plans to invest €1 billion in the project, which is intended to "increase rail competitiveness between London and Paris," it said. FS Group has also recently signed an agreement with Spanish high-speed rail start-up Evolyn, the statement said, without providing further details. "This investment represents a decisive step in the FS Group's vision to build a more integrated, competitive and sustainable European railway network," said FS Group head Stefano Antonio Donnarumma. "High-speed rail is the backbone of efficient and environmentally friendly mobility and, by expanding our presence on key corridors, we are not only investing in infrastructure and innovation, but also in the future of European transport." unveiled plans to increase international high-speed rail travel between London and continental Europe in partnership with French operator Getlink. Media reports at the time suggested this could open the door for a direct London to Milan train route.
Local France
08-04-2025
- Business
- Local France
Trenitalia wants to compete with Eurostar on Paris-London route
The announcement by the Italian railway operator follows statements by Richard Branson's Virgin Group last month that it hopes to begin offering high-speed rail services on the route in 2029. Trenitalia said on Tuesday it plans to invest €1 billion to launch its Paris-London service, also by 2029. Stefano Antonio Donnarumma, head of the FS Group that includes Trenitalia, said the project is part of the company's strategic plan to be a key player in a competitive and sustainable European rail network. "High-speed rail networks are the backbone of efficient and environmentally friendly mobility, and by expanding our presence on key corridors, we are not just investing in infrastructure and innovation, but also in the future of European transport," Donnarumma said in a statement. "More competition will help to create a more efficient and customer-oriented industry, offering a real alternative to air travel," he added. Trenitalia already operates routes in both France and Britain and the company said this provides "an important competitive advantage to enter this strategic corridor", referring to the Paris-London route. Advertisement The announcement comes a week after Britain's Office of Rail and Road (ORR) opened access to a maintenance depot along the high-speed Paris-London route to other firms, removing a hurdle to competitors offering services. READ MORE: Paris to Marseille from €27: Trenitalia opens summer train ticket sale Dutch operator Heuro and Spain's Evolyn have also expressed interest in competing on the Paris-London route against Eurostar, which is often criticised for its high ticket prices. Trenitalia said it had recently signed a cooperation agreement with Evolyn but did not provide details. Germany's Deutsche Bahn ran one of its ICE high-speed trains through the Channel tunnel in 2013 but its plans to launch services in 2016 never reached fruition.
Yahoo
08-04-2025
- Business
- Yahoo
Trenitalia wants to compete with Eurostar on Paris-London route
Trenitalia said Tuesday it plans to launch a new high-speed rail service connecting London and Paris, as the days of Eurostar's three-decade monopoly on the line look increasingly numbered. The announcement by Italy's primary railway operator follows statements by Richard Branson's Virgin Group last month that it hopes to begin offering high-speed rail services on the route in 2029. Trenitalia said Tuesday it plans to invest one billion euros ($1.1 billion) to launch its Paris-London service, also by 2029. Stefano Antonio Donnarumma, head of the FS Group that includes Trenitalia, said the project is part of the company's strategic plan to be a key player in a competitive and sustainable European rail network. "High-speed rail networks are the backbone of efficient and environmentally friendly mobility, and by expanding our presence on key corridors, we are not just investing in infrastructure and innovation, but also in the future of European transport," Donnarumma said in a statement. "More competition will help to create a more efficient and customer-oriented industry, offering a real alternative to air travel," he added. Trenitalia already operates routes in both France and Britain and the company said this provides "an important competitive advantage to enter this strategic corridor", referring to the Paris-London route. The announcement comes a week after Britain's Office of Rail and Road (ORR) opened access to a maintenance depot along the high-speed Paris-London route to other firms, removing a hurdle to competitors offering services. Eurostar said in a statement that it is "firmly committed to developing cross-Channel rail services and we welcome the competition." Dutch operator Heuro and Spain's Evolyn have also expressed interest in competing on the Paris-London route against Eurostar, which is often criticised for its high ticket prices. Trenitalia said it had recently signed a cooperation agreement with Evolyn but did not provide details. Germany's Deutsche Bahn ran one of its ICE high-speed trains through the Channel tunnel in 2013 but its plans to launch services in 2016 never reached fruition. agu-ode/rl/gv Sign in to access your portfolio
Yahoo
08-04-2025
- Business
- Yahoo
Italian rail operator reveals €1bn investment to tackle Eurostar monopoly
Italian state railway group Ferrovie dello Stato (FS) on Tuesday revealed plans to launch a high-speed rail service between Paris and London through the Channel Tunnel. The service, set to be launched by 2029, will challenge Eurostar's long-running monopoly on the route between the UK capital and mainland Europe. FS said that the project, with an earmarked €1 billion, would be carried out in partnership with Spanish firm Evolyn, led by the Cosmen family. Evolyn announced back in 2023 that it wanted to launch a service between Paris and London. The details of its partnership with FS are not yet finalised. "This investment is a decisive step forward in FS Group's vision of building a more integrated, competitive and sustainable European rail network," Stefano Antonio Donnarumma, FS Group CEO, said in a statement. "High-speed rail networks are the backbone of efficient and environmentally friendly mobility, and by expanding our presence on key corridors, we are not just investing in infrastructure and innovation, but also in the future of European transport," he added. The link between London and Paris could be extended to services via Lille, Ashford, Lyon, Marseilles and Milan, said FS on Tuesday. Related Evolyn: The high-speed rail startup with mystery investors coming for Eurostar's crown Virgin Group seeks to raise funding for cross-Channel Eurostar rival The announcement comes after Virgin Group, owned by billionaire Richard Branson, also made a bid to challenge Eurostar's monopoly last month. Virgin Group told the Financial Times that it intends to raise £700 million (€820mn) in debt to finance a high frequency service from London to Paris and Brussels, with plans to later extend the route to Amsterdam. The firm's plans to run trains along these routes were originally complicated by a spat over an east London rail depot, the only available space to park high-speed cross-Channel trains. After Eurostar claimed that it had used all available spots, Evolyn and Virgin appealed to the UK's rail regulator. In its statement released on Tuesday, FS said that it had received the green light from the UK's Office of Rail and Road to use the Temple Mills depot. FS added that it had obtained the necessary licenses and permits in France, and that it was working to increase capacity at St. Pancras. It said that the latter task was 'at an advanced stage'. The Italian firm already runs a high-speed service between Milan and Paris, as well as intercity trains within France. FS Group also has an established presence in the UK, where it has been present since it acquired train operator c2c in 2017. Alongside Virgin, FS, and Evolyn, firms Gemini Trains and Deutsche Bahn have expressed interest in accessing the Channel Tunnel route. Critics of Eurostar's monopoly argue that increased competition would bring ticket prices down and improve service quality.
Yahoo
08-04-2025
- Business
- Yahoo
Trenitalia wants to compete with Eurostar on Paris-London route
Trenitalia said Tuesday it plans to launch a new high-speed rail service connecting London and Paris, as the days of Eurostar's three-decade monopoly on the line look increasingly numbered. The announcement by the Italian railway operator follows statements by Richard Branson's Virgin Group last month that it hopes to begin offering high-speed rail services on the route in 2029. Trenitalia said Tuesday it plans to invest one billion euros ($1.1 billion) to launch its Paris-London service, also by 2029. Stefano Antonio Donnarumma, head of the FS Group that includes Trenitalia, said the project is part of the company's strategic plan to be a key player in a competitive and sustainable European rail network. "High-speed rail networks are the backbone of efficient and environmentally friendly mobility, and by expanding our presence on key corridors, we are not just investing in infrastructure and innovation, but also in the future of European transport," Donnarumma said in a statement. "More competition will help to create a more efficient and customer-oriented industry, offering a real alternative to air travel," he added. Trenitalia already operates routes in both France and Britain and the company said this provides "an important competitive advantage to enter this strategic corridor", referring to the Paris-London route. The announcement comes a week after Britain's Office of Rail and Road (ORR) opened access to a maintenance depot along the high-speed Paris-London route to other firms, removing a hurdle to competitors offering services. Dutch operator Heuro and Spain's Evolyn have also expressed interest in competing on the Paris-London route against Eurostar, which is often criticised for its high ticket prices. Trenitalia said it had recently signed a cooperation agreement with Evolyn but did not provide details. Germany's Deutsche Bahn ran one of its ICE high-speed trains through the Channel tunnel in 2013 but its plans to launch services in 2016 never reached fruition. agu-ode/rl/cw
