Trenitalia owner FS Group has agreed a partnership with investment firm Certares to create a new joint venture to develop international high-speed rail services in Europe.
The two companies said the partnership was designed to “capitalise on the opportunities created by EU railway liberalisation and the growing demand for sustainable long-distance travel”.
The new JV includes an “initial focus” on Trenitalia France, as well as expanding services in the UK and on “key cross-border corridors” in Europe.
The partnership between FS Group and Certares will help to support FS Group’s €1 billion investment strategy, which includes plans to launch train services between London and Paris by 2029 in competition with existing operator Eurostar.
Trenitalia France already operates high-speed services on the Paris-Lyon, Paris-Marseille and Paris-Milan routes, and FS Group is planning further network expansion.
US-based Certares is already an investor in American Express Global Business Travel, Marietton Développement and Internova Travel Group. It was also part of a consortium, alongside Delta Airlines and Air France-KLM, that unsuccessfully bid to buy Italian airline ITA Airways.
The companies added in a joint statement: “By combining FS and Trenitalia France's operational excellence with Certares' global travel distribution network, the partnership aims to position France, the Paris-London corridor, and future territories included in the joint venture as showcases for the future of sustainable European travel, benefiting French, UK and European customers alike.”