Eurotunnel freight rebounds to pre-Covid levels

Freight volumes were just 7pc down on October 2019, which were flattered by Brexit stockpiling

The number of lorries travelling under the English Channel returned to pre-pandemic levels during October. 

More than 140,000 truck shuttles ran through the Eurotunnel, just 7pc lower than last year.

Eurotunnel’s owner Getlink said October 2019 figures had been flattered by stockpiling ahead of a Brexit deadline at the end of the month.

Passenger volumes remain low, however. The number of shuttles was 55pc lower. Some 1.3 million have run between January and October, compared with almost 2.3 million over the corresponding period last year.

Elsewhere on the railways, ticketing app Trainline plunged into the red. The FTSE 250 firm posted a £45m pre-tax loss in the half-year to August. 

Revenue was almost 80pc lower at £31m after the Government urged Britons to stay off public transport.

US private equity owner KKR floated Trainline in June 2019 in one of the most successful stock market debuts of recent years.

The Wall Street fund sold a £279m stake in Trainline in November at a price of 410p-a-share.

Trainline’s stock has struggled in 2020, however, falling sharply in February as the pandemic hit the UK. Boss Clare Gilmartin is to step down in February.

The tech firm’s shares have regained some of the lost ground and were 7pc higher at 292p on Thursday. 

Nevertheless, Dan Thomas, an analyst at investment research firm Third Bridge: said "Trainline is facing an uncertain future with another national lockdown, business travel in the deep freeze, and the departure of Clare Gilmartin. We are hearing that some businesses won’t be asking employees to return to the office until June 2021, further suppressing demand.”