International Outlook: Global Wrapup
Eurotunnel Group has declined to fire the first shot in a cross-channel price war. On Jan. 11, it unveiled higher-than-expected fares for passenger travel through the Calais-to-Dover tunnel. Round-trip fares for cars will start at $326, rising to $459 during the summer, excluding short-term specials. That's vs. $327 to $428 for ferry rides. Some analysts still predict a fare war later this year, as the Chunnel steals passengers from airlines and ferries. With nearly $14.8 billion in construction costs to amortize, they figure, it could come under pressure to add trains and slash fares. The first paying passengers will make the 27-minute trip on May 8--two months after freight services begin.