Eurostar has reported a drop in business travel after a “challenging” second quarter of the year was impacted by Brexit and Brussels terrorist attacks.
The cross-channel operator said business demand softened in the run-up to the EU with passenger numbers down 3 per cent to 2.7 million year-on-year.
Sales revenues were 10 per cent lower in Q2, falling from £232 million to £208 million.
Nicolas Petrovic, Eurostar CEO, said: “In the run up to the EU referendum we experienced a slowdown in business travel and the uncertainty following the vote to leave, combined with the Brussels terrorist attack, has continued to dampen demand.
“At the same time, as a business trading on both sides of the Channel, a drop in the pound typically drives an increase in demand for leisure travel from the continent as customers take advantage of lower cost trips to London.”
In June, Eurostar increased passenger numbers by 2 per cent compared with the same month in 2015. This was due to Euro 2016, with three quarters of matches being staged in Eurostar destinations.
Gare du Nord upgrade
Petrovic added that the transformation project of Gare du Nord Paris should be complete by 2016. The departure area will be extended and there will be a new business lounge with a catering offer from culinary director, Raymond Blanc.
Last year, the UK government sold its remaining stake in Eurostar for a reported £760 million.
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