Brussels, 25th September 2023: ALLRAIL extends its full support to French passenger rail new entrant Railcoop in its inaugural project to offer an affordable, sustainable rail transport option between Lyon and Bordeaux by 2024.
Since its inception in 2019 and with a dedicated membership of 14,500 individuals, including more than thirty local authorities, Railcoop has pursued the objective of providing passengers with a broader spectrum of services and more accessible trains, building on the proven benefits of passenger rail market opening.
However, Railcoop, like many other new entrant rail operators across the EU, has encountered huge challenges. For Railcoop’s inaugural Bordeaux-Lyon route passing through ten towns, an estimated €40 million in investment is required. Regrettably, traditional financial institutions have hesitated to commit due to the uncertainty arising from the regulatory and operational barriers that new entrants face.
Fortunately, Railcoop has found a way forward that is contingent upon a crucial initial step: raising €200,000 by the end of September to secure its immediate financial stability and conclude ongoing negotiations with an investment fund in January 2024. Therefore, Railcoop has launched a campaign to invite more people who are passionate about affordable, sustainable rail transport to join their project.
Railcoop needs success just as the liberalisation of rail transport requires more commitment from private companies. Otherwise, it would be a huge setback for passenger rail market opening in France and the EU.
Therefore, ALLRAIL reaffirms its unwavering commitment to support Railcoop through its financial struggle.