Travellers in France may soon enjoy lower ticket prices and more choices for high-speed train journeys. A new French company named Velvet has received official approval to launch train services on popular routes, challenging the state-owned rail operator SNCF.
Velvet plans to start running trains in 2028 between Paris and cities along the Atlantic coast, including Bordeaux, Nantes, and Angers. The company aims to add 10 million seats on these routes, with average travel times of around two hours.
The French transport ministry recently granted Velvet an initial licence. However, the company still needs to get safety certification from France's rail regulator before it can start carrying passengers.
France opened its passenger rail market to competition in 2020 under European Union rules. Although SNCF is still the largest operator, several new companies are entering the market. Velvet has already raised €1 billion from a French investment fund to buy 12 next-generation Avelia Horizon trains from manufacturer Alstom.