Eurotunnel today reinforced its backing for wholly-owned cross-Channel ferry operator MyFerryLink while announcing a lift in first quarter results.
The Channel Tunnel operator saw overall revenues rise by 8% to €260.5 million, with Shuttle revenues up by 5% to €106.5 million and Eurostar carryings up by 3% to 2.3 million passengers.
MyFerryLink saw its market share improve to almost 10% against less than 7% in the same period in 2013. Quarterly revenue, which reached €18.3 million, “shows the relevance of the service provided by this new cross-Channel operator,” Eurotunnel said.
The company is awaiting the verdict of the UK Competition and Markets Authority in May over the acquisition of three former SeaFrance ferries and the impact on competition on the Dover-Calais route.
Eurotunnel said MyFerryLink has “brilliantly overcome all the handicaps which have been imposed upon it” with an increase in carryings.
This is “a clear sign that customers want an alternative maritime operator and real choice when crossing the Channel by ferry”.
The company added: “The Eurotunnel Group considers that this maritime activity has proven its relevance, its usefulness and its potential for customers.
“The prohibition on its operation would lead to a reduction in available capacity leading automatically to an increase in prices to the detriment of the consumer.”
Eurotunnel chairman and chief executive Jacques Gounon, detailing first quarter results, said: “There is a very positive trend marking the start of the year. The upturn in the UK economy is lifting the Eurotunnel Group’s activity.”