Press Release: Commission approves State aid to London & Continental Railways and Eurostar

The European Commission approved £5.169 billion in State aid for the high-speed rail link service between London and the Channel as well as the restructuring of Eurostar. The operation notified by the United Kingdom involves public support mainly in the form of debt cancellation and puts in place a sustainable financial structure for the high-speed rail link. Proper independent monitoring of the whole process will be guaranteed. Additionally the UK committed itself to the 'one time last time' principle. The operation will also result in the unbundling of infrastructure and transport activities, and a significant reduction of access charges. It will benefit competition and users in view of the forthcoming liberalisation of international passenger transport by rail in 2010.