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Alstom shares closed at €16.36 on Wednesday, holding near 52-week lows, as investors brace for full-year results on 13 May that have become a defining test for new chief executive Martin Sion. The Saint-Ouen-based rail group has shed nearly 36% of its market value over the past three months, taking its capitalisation to around €7.5bn, after Sion used a hastily convened analyst call on 16 April to abandon a €1.5bn three-year free cash flow target that had been central to the c

Paris, 28 April. Alstom's new chief executive Martin Sion is preparing the French rolling stock manufacturer for what he has described as a deeper operational reset, after a sharp market reaction wiped close to a third off the company's value earlier this month. Shares in the Paris-listed group were trading around €16.30 on Monday, little changed since the 28 per cent slide on 17 April that followed the release of preliminary results for the 2025/26 financial year. The stock

Germany has moved to salvage its lagging deployment of the European Train Control System, launching a dedicated coordination office as the bloc's largest rail market concedes it has fallen behind on digital signalling commitments. Transport Minister Patrick Schnieder announced the ERTMS Coordination Office on 17 April, with the body taking effect immediately under public-sector consultancy PD Berater der öffentlichen Hand. The unit will act as a single point of contact for th

Spanish rolling-stock manufacturer Talgo faces the potential collapse of a €350 million contract to supply up to ten Avril high-speed trainsets to French private operator Le Train, after state-backed Renfe shelved its planned expansion into the French market, removing the only live pathway to certifying the fleet north of the Pyrenees. The Basque manufacturer's 2023 preliminary agreement with Le Train, which aims to launch high-speed services in western France, was explicitly

Alstom has taken the rail hydrogen fuel-cell business of Cummins in-house, concluding a deal that underscores how Europe's flagship alternative-traction programme is shifting from a growth story to a maintenance commitment. The French train manufacturer confirmed on 2 April that it had acquired the engineering, product and support operations supplying fuel cells for its Coradia iLint trains, including the Herten assembly site in north-west Germany and the Hydrogenics entity t

Germany's state rail operator books a second consecutive billion-euro loss, with no quick fix in sight Deutsche Bahn ended 2025 with a net loss of 2.3 billion euros, widening from 1.8 billion euros the previous year, as decades of underinvestment in Germany's rail network continued to erode the group's finances and test the patience of its passengers. The headline figure was heavily shaped by a 1.4 billion euro impairment charge at DB Long-Distance, reflecting reduced revenue

Germany's state railway is carrying more passengers than ever and losing money at scale. Deutsche Bahn posted a net loss of €2.3 billion for 2025, the company confirmed in late March, a result that lays bare the tension at the heart of one of Europe's most ambitious infrastructure programmes. Group revenues rose 3% to around €27 billion and operating profit returned to positive territory at €297 million, but those headline figures were overwhelmed by a €1.4 billion writedown

Spain's state-owned rail operator Renfe has surrendered its capacity reservations on the Paris corridor, formally ending years of failed attempts to bring its Talgo-built Avril trains onto one of Europe's busiest high-speed routes. The withdrawal, confirmed to AFP and announced on 1 April, draws a line under an ambition that has defined Renfe's international strategy for the better part of a decade. The operator told the French news agency it could not establish a stable hori

Germany's state-owned railway has reported a net loss of €2.3 billion for 2025, widening from €1.8 billion the previous year, in results that lay bare the structural rot at the heart of Europe's largest rail network and raise fresh questions about Germany's ability to deliver on its green transport ambitions. A write-down of approximately €1.4 billion at DB Fernverkehr, the long-distance passenger division, drove the headline loss, with the company citing lower revenue expect

Estonia, Latvia and Lithuania have launched a joint tender for up to 20 high-speed regional trains to run on the Rail Baltica corridor, pressing ahead with rolling stock procurement even as the infrastructure those trains are meant to serve remains years from completion. The tender, published in mid-March, covers electric multiple units capable of 200 kilometres per hour on the European standard gauge. Estonia is leading the initial order with five trains and an option for tw

A Dutch startup is betting that cheap tickets and guaranteed seats can do to trains what budget airlines did to flying. GoVolta, a privately held rail operator founded in Breda, launched its first international services from Amsterdam to Berlin and Hamburg on 19 and 20 March respectively, entering a market long dominated by state-backed incumbents and pitching itself as the first genuinely low-cost alternative to both the plane and the car on the North Sea-to-Germany corridor

European Sleeper launches its Paris-Berlin sleeper as public operators retreat The overnight train that left Paris Gare du Nord on Thursday evening carried with it more than the usual assortment of travellers seeking a cheaper path to the German capital. It carried a question about the future architecture of European rail: as state operators retreat from unprofitable routes, who fills the void? European Sleeper's first departure on the Paris-Berlin route ran on 26 March 2026,