Key Notes
- Certares founder Greg O’Hara says the firm has invested about $2.3 billion in European and UK rail.
- FS Group has ordered 19 Hitachi trains for Trenitalia France, with Paris–London service targeted for 2029.
- The partnership also aims to improve rail booking through travel agencies and corporate travel channels.
Certares has invested about $2.3 billion in rail across Europe and the UK, founder Greg O’Hara said, putting the travel investment firm behind a push for greater competition on some of the continent’s busiest routes.
O’Hara told Skift’s summit in Dublin on October 15 about the investment. His figure describes the firm’s rail activity rather than a newly announced, standalone $2.3 billion transaction. For travelers, the developments to watch are new trains for France and a planned Paris–London service targeting 2029.
How the FS Partnership Fits Together
The foundation is Certares’ partnership with Italy’s Ferrovie dello Stato, or FS Group. Their December agreement outlined a €1 billion investment plan focused on France and the UK, envisaging a joint venture and investment in Trenitalia France.
That operator already serves Paris–Lyon, Paris–Marseille and Paris–Milan. The partnership’s ambitions include more capacity on existing routes, with plans for up to 28 daily Paris–Lyon services, alongside expansion across the Channel.
These announcements describe different parts of the project. O’Hara’s dollar figure, the partnership’s euro-denominated investment plan and the train procurement contract should not be added together as if they were three separate new cash injections.
Nineteen Trains and a Paris–London Target
FS Group’s August order provides a more concrete measure of the expansion: 19 new high-speed trains for Trenitalia France, supplied by Hitachi Rail. The approximately €2 billion contract covers both construction and long-term maintenance and technical support.
FS is also developing a maintenance facility at Maisons-Alfort Pompadour outside Paris. The fleet is intended to support growth in France and the planned London link, although 2029 remains a target rather than a confirmed passenger departure date.
Hitachi’s fleet details point to improved onboard connectivity, redesigned interiors and upgraded catering facilities. Those features could make a difference on longer journeys, but final ticket prices and service choices will determine how attractive the trains are to different travelers.
Making Rail Easier to Book
Distribution is another important part of the Certares–FS plan. The partnership envisages working with travel businesses in Certares’ portfolio, including American Express Global Business Travel, Marietton and Internova, to reach corporate and leisure customers.
The proposed work includes booking tools and rail-inclusive itineraries. For someone arranging a multi-city holiday, the practical benefit would be seeing suitable trains alongside the rest of the trip, with a clearer route to buying the journey through an adviser or travel platform.
That potential depends on how the booking arrangements are implemented. Travelers will still need to compare ticket flexibility, connection times and the support available if a journey changes.
More Competition, but No Immediate Fare Promise
The project enters an increasingly crowded field of future European rail services. We recently covered Virgin’s cross-Channel plans, targeting 2030, and Frecciarossa’s Alpine tests ahead of proposed Munich routes.
More operators could widen the choice of departure times and onboard experiences. Cheaper fares, however, are not an automatic consequence of investment: they will depend on available capacity, demand and the prices operators set.
For now, travelers can use Trenitalia France’s existing network while treating the London service as a future option. The next useful milestones will be a firm launch timetable, bookable departures and published fares.
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