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    I am not so sure that Eurotunnel is in the great shape that everybody seems to be assuming. They only just broke even last year with a hairline profit of €1.4m. They made a loss of €45 million in the first half of this year. They carried 533,238 cars in July and August combined but the Dover ferries carried 404,467 cars in July (+10,959 coaches) and 489,833 cars in August (+8,096 coaches).

    They have increased their carryings of trucks but it is from a low base after losing a great deal of custom to the ferries when contracts were not renewed in 2009 after the fire at the end of 2008.

    They have a debt mountain of €3.65 billion and need to start repaying the principal in 2013. This is ten times what the Port of Dover is expected to be sold for. That is after writing off some £6 billion - estimates of the original cost of the tunnel vary from £9bn to £12bn which is some thirty times what our port is thought to be worth.

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