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Eurotunnel turns profit after 14 years
The Eurotunnel -- you know, the underwater passageway between Britain and France -- opened in 1994. And now, 14 years later, the tunnel turned a profit (for 2007). Earnings were $1.5 million dollars. Maybe not the best return EVER. But a feat never the less.
The tunnel cost about $25 million (16 million euros, today's exchange.) to build -- more than double initial estimates. Its private owners had been drowning in debt. That debt was restructured in 2006 and is partially behind this new profitability.
Posted by Lori Stassi on April 8, 2008 9:13 AM PT | Permalink
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