Channel Tunnel operator Getlink sees summer bookings jump after profit tumbles
Channel Tunnel operator Getlink this morning said that its earnings fell two-fifths last year as a result of travel restrictions caused by the pandemic.
But chief executive Yann Leriche said that Boris Johnson’s recent announcement of an end to travel restrictions on 17 May had prompted a 200 per cent surge in bookings.
The firm reported earnings of €328m, down 41 per cent on the prior year.
As a result of the pandemic, just 1.4m passenger vehicles used the Eurotunnel in 2020, down from 2.6m in 2019.
Leriche added that Getlink was working with the British government and alongside air and ferry operators to put in place measures that would enable a return to normal from late spring.
Getlink will also have to contend with the consequences of the UK’s departure from the European Union, meaning that disruption could continue to affect the service.
Due to this uncertainty, the group did not provide any financial guidance for the coming year.
It did, however, propose a modest dividend of €0.05 per share, which it said it planned to increase when the pandemic ends.