French meet their Waterloo over Eurostar
Friday 12 March 1999
Eurostar Group will be run by a board of directors from the three operating railways, and headed by Hamish Taylor, the managing director of Eurostar (UK), who will become its chief executive.
The group said the catalyst for the move had been the award of the management contract for Eurostar (UK), the private sector British operating arm, to Inter-Capital and Regional Rail (ICRR), a consortium of SNCF, SNCB, British Airways and National Express.
Last week Eurostar said it had increased revenues by 29 per cent in 1998 following a cost-cutting programme and better marketing.
Mr Taylor said: "If we wish to continue this excellent progress we must remove the internal barriers that operating as three separate companies inevitably create."
Eurostar Group said the new structure would allow greater efficiencies, faster decision making and would eliminate duplication - or even triplication - of activities and costs.
Under the new system, a number of key functions - commercial, budgets, co-ordination, corporate communications, legal services and IT systems - will be run from Waterloo on behalf of the three railways. But production, ancillary revenue, sales and personnel will remain the domains of each company.
David Azema, the chairman of Eurostar Group, said: "It will not be dominated by any of the three countries involved but presents an opportunity to enhance this cosmopolitan experience and create a unique public/private sector, pan-European business model."
Eurostar (UK) last week announced it had cut its annual losses from pounds 135m to pounds 90m and forecast it would break even on target in 2005, five years before the ICRR franchise expires.
filmFilm producers sue Warner Bros for $75m over Hobbit films
sportNapoli 2 Arsenal 0: Gunners must now face either Real Madrid, PSG, Bayern Munich, Atletico Madrid or Barcelona in knock-out stages
Swedish stars ask fans for £195 pledges on crowd-funding website
voicesJust when you thought you could find a man, get married, and have a baby by the age of 35... it turns out you’re too late, says Grace Dent
musicAs Mariah Carey and Noddy Holder rake in the royalties from their classics, why there hasn't been a decent festive hit for 20 years?
theatreAuthor Daniel Rosenthal recalls the mishaps that almost brought the curtain down on the likes of John Gielgud and Diana Rigg
lifeAs the Royal Mail plans to phase out deliveries on two wheels, it's no wonder posties are in a spin
musicThe 21-year-old beat Ella Eyre and Chlöe Howl to win the honour
lifeFull of the joys and want to help your fellow man? December isn't the time to do it
techLuke Blackall reports on precision engineered prams and babygros that monitor your child 24-7
Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute in Soweto
David Cameron explains selfie with Obama and Helle Thorning-Schmidt at Mandela Memorial
French café starts charging extra to rude customers
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
- 1 Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute in Soweto
- 2 French café starts charging extra to rude customers
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 Is Facebook making us forget? Study shows that taking pictures ruin memories
- 5 Australia incest case: Severely deformed children found in remote farming community after generations of inbreeding
iJobs Money & Business
£77099.84 - £96375.26 per annum + Bonus + Benefits : Harrington Starr: My clie...
£45000 - £60000 per annum + Bonus and Package: Harrington Starr: Trading appli...
£50000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...
£70000 - £90000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...