Blamed cut-throat competition from budget airlines

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The operator of the tunnel that links Britain and France, Eurotunnel, said that commercial and tourist traffic using its car and coach shuttle service had fallen sharply, leading to a drop in operating revenues of 4%. Eurotunnel's chief executive, blamed cut-throat competition from budget airlines?

If the CEO is correct, are the services of the airlines and Eurotunnel substitutes or complements? Use demand and supply analysis (i.e., market equilibrium) to explain how lower airfares between Paris and London impact the market for the shuttle services of Eurotunnel.

Reference no: EM131196825

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