Eurotunnel makes another Loss as Debt Fears Increase (Shepway Liberal Democrats)

Eurotunnel makes another Loss as Debt Fears Increase

April 14, 2006 12:00 AM

Eurotunnel boring machine Eurotunnel has been forced to postpone its full-year results, admitting that its auditors had initiated an "alert procedure" over the continuity of its operations in 2007. It made a net loss last year of "slightly above" €300m (£207m) compared with one of €836m in 2004.

The Cheriton based operator warned that it could run out of cash early next year and asked its creditors for an extension of talks over rescheduling its £6.2bn of debts. It also reported a sharp drop in passenger, truck and freight traffic in the first quarter of this year.

The Eurotunnel chairman said that getting creditors to negotiate together meant that a "final push" for a restructuring could be mounted and a deal put to the annual meeting on June 30.

Display: Desktop
Switch to: Mobile / Accessible (requires cookies)

Printed (hosted) by Prater Raines Ltd, 98 Sandgate High Street, Folkestone CT20 3BY

Published and promoted by Shepway Liberal Democrats, 98a Sandgate High Street, Folkestone CT20 3BY

The views expressed are those of Shepway / Folkestone and Hythe Liberal Democrats, not of the service provider.

Website developed by Prater Raines Ltd / Design by Dane Williams

Shepway Liberal Democrats