Eurotunnel offers bleak outlook

news

Eurotunnel’s restructuring efforts took a turn for the worse last month as the tunnel operator’s management warned that it may not be able to meet its debt obligations in early 2007. The warning came after Eurotunnel announced a net loss of £570 million in 2004. Management blamed increased competition from cross-Channel ferries and budget airlines.

Eurotunnel chairman Jacques Gounon has now called upon creditors to forgive over €5 billion of outstanding bank and bond debt. “If the debt is not

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: