Overview

• Virgin Group has announced it is ready to launch cross-Channel passenger train services, citing the removal of key regulatory hurdles.
• The Office of Rail and Road (ORR) declared that Eurostar's Temple Mills maintenance depot in London can accommodate additional operators, enabling competition.
• Virgin highlighted its prior experience in the rail industry and plans to invest £700 million to establish its services through the Channel Tunnel.
• Eurostar, which has held a monopoly on Channel Tunnel passenger services since 1994, has faced financial struggles and reduced services, creating opportunities for rivals.
• Other potential competitors, including Spanish start-up Evolyn and Gemini Trains, are also exploring entry into the high-speed rail market.