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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/03/eurotunnel-slumps-to-fullyear-loss.jpg"><img class="alignnone size-full" title="Eurotunnel made losses of 57 million euros (49 million pounds)" src="http://londonglossy.com/wp-content/uploads/2011/03/min-eurotunnel-slumps-to-fullyear-loss.jpg" alt="Eurotunnel made losses of 57 million euros (49 million pounds)"/></a></p>
<p>Eurotunnel has slumped to a full-year loss as a long-running dispute over insurance payments arising from a fire in 2008 offset a rise in passenger numbers.</p>
<p>Higher debt costs also impacted on the Channel Tunnel operator but revenues increased 26% to 737 million euros (£366.3 million) in 2010 following an 11% rise in car traffic to more than 2.1 million. The number of truck journeys leapt 42% to almost 1.1 million but remains below the pre-recession level seen in 2007.</p>
<p>The group made losses of 57 million euros (£49 million), compared to a profit of 7 million euros (£6 million) the previous year.</p>
<p>The log-jam has been caused by legal claims brought jointly by Eurostar and SNCF against Eurotunnel&#8217;s insurers. The fire led to one section of the tunnel being unavailable between September 2008 and February 2009.</p>
<p>Shuttle service revenues improved 15% to 366 million euros (£314.5 million) as Eurotunnel said more travellers viewed the tunnel as cheaper and more flexible than flying. Market share increased by almost two percentage points to 43% in 2010, it added.</p>
<p>The ash cloud from an Icelandic volcano, which grounded air traffic in the spring, also helped to increase passenger numbers.</p>
<p>Revenues from rail operators including Eurostar, which pays to use its tracks, increased by 3% to 263 million euros (£225.8 million).</p>
<p>Eurotunnel said it expects to add an additional 3 or 4 million train passengers over the next few years as it runs a number of new services.</p>
<p>Eurostar, whose passenger numbers increased by 3% to 9.5 million last year, is set to introduce new services to Amsterdam, Switzerland and the south east of France.</p>
<p>Eurotunnel said it could benefit from the soaring price of oil as more passengers take the train overseas.</p>
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