Eurotunnel cheered by overhaul

Efforts by Eurotunnel to take on low-cost airlines and overhaul the contracts it holds with hauliers showed early signs of paying off today.

The Channel Tunnel operator, which is in talks with lenders over ways to tackle its £6.1bn (€9bn) debt mountain, said half-year revenues from shuttle services improved 6% to £146m (€216.1m), while a business reorganisation also helped lift profits at an operating level by 19% to £74m (€109.5m).