FRANCE: Aspiring high speed train operator Kevin Speed has signed a track access framework agreement with infrastructure manager SNCF Réseau, and hopes to launch its first services under the Ilisto brand by the end of 2028.
The framework agreement signed on February 29 is subject to validation by regulator ART. It runs for 10 years and can be extended. It covers one train path per hour on the Paris-Nord – Lille Flandres, Paris-Est – Strasbourg and Paris-Lyon – Lyon Part-Dieu high speed lines, including the intermediate stations.
Following the signing of the agreement, Kevin Speed has launched a second debt and equity financing round which aims to raise €1·2bn; the first round raised €4m in July 2023. The funding round is being assisted by Nomura and Santander CIB, as well as EY which contributed to the development of the business plan.
Kevin Speed was founded in 2021 by Laurent Fourtune, who worked at Paris transport operator RATP in 2009-18 and was Chief Operating Officer at Eurotunnel until 2021.
The company plans to buy 20 Alstom 300 km/h trainsets, with high density interiors inspired by Japan’s Shinkansen and low-cost airlines.
Its aim is to offer high frequency services affordable to all. It would make intensive use of the rolling stock, all services would call at all stations, there would no catering and there would be ‘innovative’ yield management.
