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China Daily / 2021-04 / 08 / Page011

UK resists pressure for Eurostar bailout as clock ticks

By JONATHAN POWELL in London | China Daily | Updated: 2021-04-08 00:00

The British government is resisting calls for a bailout for international train operator Eurostar, which has until June to repay loans it took out after passenger numbers plummeted during the COVID-19 pandemic.

Eurostar held emergency talks with lenders last week, seeking to avoid bankruptcy this summer, when a 400 million pound ($555 million) debt is due for repayment, despite the continent still being in the grip of the virus.

The company has turned to restructuring its loans, following weeks of lobbying ministers in the UK and Europe for a bailout that has failed to produce a deal, The Daily Telegraph reported.

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