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Greater Loss of Channel Tunnel Operator Due to Brexit and Corona

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The operator of the Channel Tunnel between France and the United Kingdom ended up even deeper in the red in the first half of this year due to the consequences of Brexit and the corona pandemic on transport through the tunnel.

 

The net loss was 123 million euros against a minus of 88 million euros a year earlier, according to the British-French Getlink.

Turnover fell by 12 percent year-on-year to 326 million euros. Compared to the period before corona, Getlink’s income fell by almost 40 percent. Due to the travel restrictions in corona time, far fewer passengers took the Eurostar trains through the Channel Tunnel.

In addition, the build-up of inventories in the run-up to Brexit led to less freight traffic between France and the United Kingdom in the first quarter.

Customs formalities also played a role in this. As a result, freight traffic picked up again in the second quarter, according to Getlink. However, compared to the first half of 2019, freight transport is still 20 percent lower.

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