European getaways can be rather expensive, but things may be looking up for cost-conscious holidaymakers as a new transport option is announced.
Italian rail operator FS Group has revealed plans to launch a new high-speed rail service between London and Paris by 2029.
The ambitious project comes with a €1billion investment as part of the company's Strategic Plan 2025-2029.
The new connection aims to increase rail competitiveness on the popular cross-Channel route.
FS Group has announced plans to launch a new high-speed rail service between London and Paris
GETTY IMAGESFS Group's trains will be inspired by its Frecciarossa service, which the company described as "an example of Made in Italy excellence in terms of energy efficiency, comfort and quality of service".
The Italian operator has signed a Memorandum of Understanding with Spanish consortium Evolyn, led by the Cosmen family, to strengthen its European high-speed rail ambitions.
The UK's Office of Rail and Road has confirmed access to the Temple Mills maintenance depot, allowing a new operator to enter the London-Paris network.
FS Group already has a presence in both France and the UK through Trenitalia France and Trenitalia UK, offering it "an important competitive advantage".
Technical assessments are underway for integration with Eurotunnel and both countries' rail networks.
In more good news for holidaymakers, the FS Group is evaluating further opportunities for its High Speed in Europe expansion.
This could mean a possible extension of the London to Paris service through Lille, Ashford, Lyon, Marseille and Milan.
Virgin Group is also eyeing up the London to Paris route, with plans to raise £700 million to fund a rival service to Eurostar as early as 2029.
The company hopes to connect London with Paris and Brussels initially before extending to Amsterdam, as reported by the Financial Times.
So what does this mean for British tourists and the future of holidays?
Currently, Eurostar is the only operator running passenger services through the Channel Tunnel, though the line is open to competition.
Multiple operators could transform holiday travel for Britons heading to Europe. With more competition comes more choices, which may lead to lower ticket prices as companies vie for passengers.
Stefano Antonio Donnarumma, CEO and General Manager of the FS Group, commented on the group's latest venture and how it could change the face of European travel.
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Currently, Eurostar is the only operator running passenger services through the Channel Tunnel
EurostarHe stated: "This investment represents a decisive step in the FS Group's vision to build a more integrated, competitive and sustainable European railway network, in line with the objectives of the 2025-2029 Strategic Plan, which places an ever-increasing focus on passenger transport abroad to accelerate the international development of the FS Group.
"High-speed rail is the backbone of efficient and environmentally friendly mobility and, by expanding our presence on key corridors, we are not only investing in infrastructure and innovation but also in the future of European transport.
"Increased competition will help create a more efficient and customer-oriented sector, offering a real alternative to air travel."
News of potential travel alternatives comes as aviation continues to cause strike-induced chaos.
Today alone, as Greek air traffic controllers carry out a 24-hour strike, thousands of European holidays have been threatened.
In other Europe travel news, Britons living in Spain have been issued emergency safety guidance.
