Standby letters of credit

A only passengers taking Eurostar to cross the Channel
Freight traffic volumes
Cross-tunnel freight traffic volumes have been erratic, with a decrease during 1997 due to a closure caused by a fire in a freight shuttle. The total freight crossings increased over the period, indicating the substitutability of the tunnel by sea crossings. The tunnel has achieved a cross-Channel freight traffic market share close to or above Eurotunnel's 1980s predictions but Eurotunnel's 1990 and 1994 predictions were overestimates.

For freight transported on through freight trains, the first year freight prediction was 7.2 million gross tonnes, however, the 1995 figure was 1.3 million gross tonnes. Through freight volumes peaked in 1998 at 3.1 million tonnes. However, with continuing problems, this figure fell back to 1.21 million tonnes in 2007, increasing again slightly to 1.24 million tonnes in 2008.
However, together with that carried on freight shuttles, freight traffic growth has occurred since opening, with 6.4 million tonnes carried in 1995, 18.4 million tonnes recorded in 2003 and 19.6 million tonnes in 2007 Year.
 

Standby letters of credit

B From October 2007, Eurotunnel invoices through railfreight by trains rather than tonne.
Eurotunnel's freight subsidiary is Europorte 2. In September 2006 EWS, the UK's largest rail freight operator, announced that owing to cessation of UK-French government subsidies of 52 million per annum to cover the Channel Tunnel "Minimum User Charge" (a subsidy of around 13,000 per train, at a traffic level of 4,000 trains per annum), freight trains would stop running after 30 November.
Economic performance

Shares in Eurotunnel were issued at 3.50 per share on 9 December 1987. By mid-1989 the price had risen to 11.00. Delays and cost overruns led to the share price dropping; during demonstration runs in October 1994 the share price reached an all-time low value. Eurotunnel suspended payment on its debt in September 1995 to avoid bankruptcy. In December 1997 the British and French governments extended Eurotunnel's operating concession by 34 years to 2086. Financial restructuring of Eurotunnel occurred in mid-1998, reducing debt and financial charges. Despite the restructuring The Economist reported in 1998 that to break even Eurotunnel would have to increase fares, traffic and market share for sustainability. A cost benefit analysis of the Channel Tunnel indicated that there were few impacts on the wider economy and few developments associated with the project, and that the British economy would have been better off if the tunnel had not been constructed.

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. A three-way treaty between the United Kingdom, France and Belgium governs border controls, with the establishment of control zones wherein 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 certain city-to-city trains, the train itself represents a control zone. A binational emergency plan coordinates UK and French emergency activities.
In 1999 Eurostar posted its first ever net profits, having previously made a loss of 925m in 1995.
Terminals

A Peugeot 807 entering a shuttle wagon at the French terminal at Coquelles near Calais in northern France
The terminals sites are at Cheriton (Folkestone in the United Kingdom) and Coquelles (Calais in France). The terminals are unique facilities designed to transfer vehicles from the motorway onto trains at a rate of 700 cars and 113 heavy vehicles per hour. The UK site uses the M20 motorway. The terminals are organised with the frontier controls juxtaposed with the entry to the system to allow travellers to go onto the motorway at the destination country immediately after leaving the shuttle. The area of the UK site was severely constrained and the design was challenging. The French layout was achieved more easily. To achieve design output, the shuttles accept cars on double-decks; for flexibility, ramps were placed inside the shuttles to provide access to the top decks. At Folkestone there is 20 kilometres (12 mi) of mainline track and 45 turnouts with eight platforms. At Calais there is 30 kilometres (19 mi) of track with 44 turnouts. At the terminals the shuttle trains traverse a figure eight to reduce uneven wear on the wheels.
Regional impact

A 1996 report from the European Commission predicted that Kent and Nord-Pas de Calais had to face increased traffic volumes due to general growth of cross-Channel traffic and traffic attracted by the tunnel. In Kent, a high-speed rail line to London would transfer traffic from road to rail. Kent's regional development would benefit from the tunnel, but being so close to London restricts the benefits. Gains are in the traditional industries and are largely dependent on the development of Ashford International passenger station, without which Kent would be totally dependent on London's expansion. Nord-Pas-de-Calais enjoys a strong internal symbolic effect of the Tunnel which results in significant gains in manufacturing.

The removal of a bottleneck by means like the Channel Tunnel does not necessarily induce economic gains in all adjacent regions, the image of a region being connected to the European high-speed transport and active political response are more important for regional economic development. Tunnel-induced regional development is small compared to general economic growth. The South East of England is likely to benefit developmentally and socially from faster and cheaper transport to continental Europe, but the benefits are unlikely to be equally distributed throughout the region. The overall environmental impact is almost certainly negative.

Five years after the opening of the tunnel, there were few and small impacts on the wider economy, and it was difficult to identify major developments associated with the tunnel. It has been postulated that the British economy would have actually been better off without the costs from the construction project, both Eurotunnel and Eurostar, companies heavily involved in the Channel Tunnel's construction and operation, have had to resort to large amounts of government aid to deal with debts amounted. Eurotunnel has been described as being in a serious situation.
Incidents
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Fires

SBLC

Main articles: 1996 Channel Tunnel fire and 2008 Channel Tunnel fire
There have been three fires in the Channel Tunnel that were significant enough to close the tunnelll on the heavy goods vehicle (HGV) shuttlesnd other more minor incidents.
During an "invitation only" testing phase on 9 December 1994 a fire broke out in a Ford Escort car whilst its owner had been loading it on to the upper deck of a tourist shuttle. The fire started at approximately 10:00 with the shuttle train stationary in the Folkestone terminal and was extinguished around 40 minutes later with no passenger injuries.

On 18 November 1996 a fire broke out on a heavy goods vehicle shuttle wagon in the tunnel but nobody was seriously hurt. The exact cause is unknown, although it was not a Eurotunnel equipment or rolling stock problem; it may have been due to arson of a heavy goods vehicle. It is estimated that the heart of the fire reached 1,000 C (1,800 F), with the tunnel severely damaged over 46 metres (151 ft), with some 500 metres (1,640 ft) affected to some extent. Full operation recommenced six months after the fire.