Editing Channel Tunnel (section)

==== Economic performance ====
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Shares in Eurotunnel were issued at £3.50 per share on 9 December 1987. By mid-1989 their price had risen to £11.00. Delays and cost overruns resulted in the price falling; during demonstration runs in October 1994, it reached an all-time low. Eurotunnel suspended payment on its debt in September 1995 to avoid bankruptcy.<ref>{{cite news | url = http://www.josephcoates.com/pdf_files/268_Megaprojects_and_Risk.pdf | title = Megaprojects and Risk: An Anatomy of Ambition | publisher=josephcoates.com | access-date =19 July 2009 }}</ref> In December 1997 the British and French governments extended Eurotunnel's operating concession by 34&nbsp;years, to 2086. There was a financial restructuring of Eurotunnel in mid-1998, reducing debt and financial charges. Despite this, ''[[The Economist]]'' reported in 1998 that to break even Eurotunnel would have to increase fares, traffic and market share for sustainability.<ref name="Flyvbjerg p. 32–34">Flyvbjerg et al. pp. 32–34</ref> A cost-benefit analysis of the tunnel indicated that there were few effects on the wider economy and few developments associated with the project and that the British economy would have been better off if it had not been constructed.<ref name="Anguera 2006"/><ref name="Flyvbjerg">{{cite book |author1=Flyvbjerg, B. Buzelius |author2=N. Rothengatter, W | year = 2003 | title = Megaprojects and Risk | location = Cambridge | publisher=Cambridge University Press | pages = 68–69 | isbn = 0-521-00946-4 }}</ref>

Under the terms of the Concession, Eurotunnel was obliged to investigate a cross-Channel road tunnel. In December 1999 road and rail tunnel proposals were presented to the British and French governments, but it was stressed that there was not enough demand for a second tunnel.<ref name="Second Link Birm">{{cite news | title = Eurotunnel unveils plans for second link | work=[[Birmingham Post]] | date = 6 January 2000 }}</ref> A three-way treaty between the United Kingdom, France and Belgium governs border controls, with the establishment of ''control zones'' within which the officers of the other nation may exercise limited customs and law enforcement powers. For most purposes, these are at either end of the tunnel, with the French border controls on the UK side of the tunnel and vice versa. For some city-to-city trains, the train is a control zone.<ref name="CPS zones">{{cite web|url=http://www.cps.gov.uk/legal/section2/chapter_f.html#_Toc44570638 |title=The CPS: Channel Tunnel |access-date=11 March 2008 |work=Crown Prosecution Service |url-status=dead |archive-url=https://web.archive.org/web/20080220234954/http://www.cps.gov.uk/legal/section2/chapter_f.html |archive-date=20 February 2008 }}</ref> A binational emergency plan coordinates UK and French emergency activities.<ref name="Kirkland pp.311">Kirkland p. 331</ref>

In 1999 Eurostar posted its first net profit, having made a loss of £925m in 1995.<ref name="BBConthisday"/> In 2005 Eurotunnel was described as being in a serious situation.<ref>{{cite web | url = http://www.adacte.com/economiepolitique/hollandais17062005.doc | title = Facts and figures Eurotunnel 2000-2004/Forecast 2005: Commentry and a suggestion | publisher = Adacte.com | date = June 2005 | access-date = 21 July 2009 | url-status = dead | archive-url = https://web.archive.org/web/20090731114603/http://www.adacte.com/economiepolitique/hollandais17062005.doc | archive-date = 31 July 2009 }}</ref> In 2013, operating profits rose 4{{nbsp}}percent from 2012, to £54{{nbsp}}million.<ref>{{cite web|title = Eurostar hails 'record-breaking' year as profits jump|url = https://www.independent.co.uk/news/business/news/eurostar-hails-recordbreaking-year-as-profits-jump-9170760.html|access-date = 25 August 2015|newspaper = The Independent|date = 5 March 2014}}</ref>