FS launches €2bn bid to break Eurostar’s Paris-London monopoly with 19 new high-speed trains by 2029
Executive summary: FS announced a €2 billion investment to procure 19 new high-speed trains for the Paris-London route, with entry into service planned for 2029, to challenge Eurostar’s monopoly. This is the first direct commercial challenge to Eurostar’s dominance on the Paris-London corridor since its inception, potentially altering pricing, service frequency, and cross-border rail dynamics in Western Europe.
Who is involved: Ferrovie dello Stato Italiane (FS), Trenitalia (FS passenger division), Hitachi Rail (train supplier), Eurostar (incumbent operator), and indirectly, the French and UK governments via rail regulatory frameworks.
Likely next: FS will proceed with train procurement from Hitachi Rail, seek track access rights via EU rail liberalization rules, and likely file for infrastructure allocation with Network Rail and SNCF Gares & Connexions ahead of a 2029 launch.
Ferrovie dello Stato Italiane (FS) has committed €2 billion to acquire 19 new high-speed trains for the Paris-London route, aiming to enter service by 2029 and directly challenge Eurostar’s long-standing monopoly on the Channel corridor. The move follows a prior announcement from Trenitalia (FS’s passenger arm) on August 7, 2026, confirming the same investment and rolling stock plan, with Hitachi Rail named as the supplier. This marks a strategic escalation in FS’s effort to expand its international high-speed rail footprint beyond domestic and Franco-Italian corridors.
Timeline
- — Fs investe 2 miliardi per 19 nuovi treni alta velocità Parigi-Londra (Il Sole 24 Ore — Economia)
- — Trenitalia, 2 miliardi e 19 treni per l’alta velocità in Francia e sulla tratta Parigi-Londra (la Repubblica — Economia)
Analysis — what this means
Likely next events
- FS to sign formal contract with Hitachi Rail for 19 ETR 1000-derived trains by Q4 2026
- FS to submit infrastructure capacity request to SNCF and Network Rail by Q2 2027
- Eurostar to respond with service upgrades or pricing adjustments by end 2026
- EU Commission to monitor potential state aid concerns under rail market opening rules by 2027
Sectors affected
- High-speed rail operations
- Cross-border passenger transport (France-UK)
- Rail manufacturing (Hitachi Rail)
- Rail infrastructure access management (SNCF, Network Rail)
Regulatory implications
- EU Regulation 2021/782 on rail passengers’ rights may see increased scrutiny due to new entrant
- Infrastructure charging schemes under Directive 2012/34/EU will be tested for non-discriminatory access
- State aid assessment under EU Treaty Article 107(3)(c) possible if FS receives preferential treatment
Historical parallels
- Eurostar’s launch in 1994 broke Air France and British Airways’ monopoly on Paris-London air routes
- Italo’s 2012 entry into Milan-Rome high-speed rail broke Trenitalia’s domestic monopoly
- Renfe’s SNCF collaboration on Barcelona-Lyon route (2013) ended SNCF’s sole control of Franco-Spanish HSR
Key entities
Sources
- Fs investe 2 miliardi per 19 nuovi treni alta velocità Parigi-Londra — Il Sole 24 Ore — Economia
- Trenitalia, 2 miliardi e 19 treni per l’alta velocità in Francia e sulla tratta Parigi-Londra — la Repubblica — Economia