HS1 Ltd has unveiled a new scheme for new and existing train operators with the hope of growing train travel between London and Europe.

The International Growth Incentive Scheme will entitle qualifying train operators up to 50% off in year 1, 40% in year 2 and 30% in year 3 on the Investment Recovery Charge, which is paid to run services on HS1.

HS1 Ltd says that the line between St Pancras and the Channel Tunnel in Folkestone operates at 50% capacity, and it is hoped that the new scheme will encourage operators to introduce new services, connect intermediate stations, introduce new trains and increase passenger volumes.

Gemini Trains says that they are assessing whether the scheme will allow them to offer additional new routes.

Virgin says that today’s announcement means that they can accelerate plans and means passengers will get the choice of service that they deserve.

“The International Growth Incentive Scheme is an innovative and groundbreaking proposal designed to boost international rail travel with more services to more destinations in Europe. We are enabling operators to expand their services, increase the network of destinations they serve and invest in new rolling stock.

Robert Sinclair, CEO of London St. Pancras Highspeed

“We have spent 2 years developing a very robust business plan prior to today’s announcement. This will further strengthen our plan for competitively priced fares, attracting more people to make the shift from road and air to rail. We are now seriously assessing whether this scheme will enable us to offer additional new and exciting routes.”

Adrian Quine, CEO of Gemini Trains

“Full-steam ahead for competition as another barrier is lifted on the cross-Channel route. London St Pancras Highspeed is working hard to unlock competition on the cross-Channel route and the new International Growth Incentive Scheme is a welcome step in the right direction. It will stimulate choice and encourage both new and established operators to be dynamic and creative.  

“Today’s announcement means Virgin can further accelerate its plans, which is great news for consumers on both sides of the Channel as they will finally get the choice and breadth of service they deserve. Virgin looks forward to sharing its plans in more detail in due course. Watch this space!”  

Virgin Group spokesperson