Eurostar reports 2015 first quarter revenue drop in wake of Charlie Hebdo terrorist attack in Paris
Published: 16:00, 16 April 2015
Eurostar revenues took a hit in the wake of the Paris terrorist attacks in January.
The company today announced its first quarter revenue figures were down by £12 million but said passenger numbers were "resilient" despite the Charlie Hebdo attacks and a fire in the Channel Tunnel.
A boost in business bookings continued in the early months of 2015 with a 7% rise compared to last year and bookings for the summer are up year-on-year.
The service carried 2.3 million passengers to and from the continent in spite of the lorry fire and terrorist attacks in the French capital, consistent with 2014 numbers.
However, revenues fell by 6% year-on-year compared to the same period in 2014.
Eurostar has pinned this down to movements in the exchange rates with the exchange rate increasing 11% over the first quarter compared with the same period last year.
As a result sterling rose to its highest point against the Euro in seven years with the exchange rate hitting €1.37 against the pound.
Sales fell by £12 million in 2015 from £227 million last year.
"With forward bookings up on this time last year we are gearing up for a busy summer period..."Nicolas Petrovic
However, Eurostar says that with a constant exchange rate it represents only a 1% fall.
It reported high levels of traffic during the Easter holiday and is confident with a year-on-year increase in forward bookings for the summer particularly for its new south of France route launching next month.
This will see a direct service stopping at Lyon, Avignon and Marseille.
Chief executive of Eurostar Nicolas Petrovic said: "We are on countdown to the launch of our new South of France service and ticket sales are gathering pace.
"Whilst the UK business market has been strong for some time, we are now seeing the same trend on the other side of the channel.
"With forward bookings up on this time last year we are gearing up for a busy summer period."
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Matt Leclere