Italy’s FS Italiane Launches €1 Billion Bid to Compete with Eurostar

Italy is making a bold move to enter the high-speed rail competition through the Channel Tunnel, as state-owned train operator FS Italiane announces a €1 billion (£860 million) investment to challenge Eurostar’s monopoly on the London–Paris route.

FS Italiane has partnered with Evolyn, a transport group backed by Spain’s Cosmen family, to introduce Italian-built high-speed trains on the cross-Channel route. Their bid follows a ruling by the UK’s Office for Rail and Road (ORR), which confirmed there is sufficient capacity for an additional operator alongside Eurostar—the sole service provider since 1994.

The FS Italiane–Evolyn consortium is one of three contenders aiming to disrupt Eurostar’s decades-long dominance. Other bidders include Gemini Trains, led by Labour peer Lord Berkeley, and Virgin Trains, founded by Sir Richard Branson.

The ORR’s decision came after it found extra train storage capacity at the UK depot serving the Channel Tunnel route, countering Eurostar’s claim that the facility was already at full capacity.

FS Italiane plans to deploy trains based on its renowned Frecciarossa high-speed service, which it describes as "top-tier in energy efficiency, passenger comfort, and service quality." The company, which also co-owns the UK’s Avanti West Coast, is exploring options to expand capacity at London’s St Pancras station and secure funding for the venture.

However, FS Italiane’s track record in the UK has been mixed. Avanti West Coast was named Britain’s worst-performing rail operator for punctuality last year, with only 41% of its services running on time, according to ORR figures.

Evolyn has promised more affordable fares compared to Eurostar, signaling a potential price war should it gain access to the route. The Cosmen family, Evolyn’s founders, are major stakeholders in Mobico, the parent company of National Express.

Stefano Antonio Donnarumma, CEO of FS Italiane, said:

“High-speed rail is the backbone of sustainable and efficient mobility. By expanding our presence on key corridors, we’re not just investing in infrastructure and innovation, but shaping the future of European transport. More competition will lead to a more customer-focused and efficient industry—providing a real alternative to air travel.”

Meanwhile, Eurostar is under pressure to resume service to Kent, specifically Ashford, after cutting routes during the pandemic. Residents and business owners argue the withdrawal has harmed the local economy.

Source: telegraph.co.uk