Smart logo. Even smarter graphics. In the end though, no trains, no access and no more finance. Whether Midnight Trains ever stood a chance of getting rolling is open to question. However, the team behind the would-be start-up open-access operator have called it a night. they’ve pulled the plug on the Midnight Trains concept.

In a poignant farewell, Midnight Trains has announced its closure, marking the end of a bold venture aimed at revolutionising night travel across Europe. The would-be open-access sleeper train operator folded without ever dispatching a single train, despite four years of relentless effort and passion. The quirky newsletters and slick graphics may have raised eyebrows in the industry, but in the end, none of the smooth presentations translated into an actual overnight dispatch.

The rise and fall of an ambitious project

It was a bold vision for sustainable travel. It did seem as if its time had come. However, vested interests may have been behind the demise of Midnight Trains. The backers, a team of French entrepreneurs, sought to create a 21st-century night train network connecting major European cities, offering a sustainable alternative to medium-haul aviation. Their mission was to revive the romance and practicality of night trains, aligning them with modern travel needs and environmental goals. High ideals and high expectations, but both came down to earth with a bump.

Regulatory and market challenges hit the project. Encouraged by the success of other private rail ventures like Italo, FlixTrain, RegioJet, and Leo Express, Midnight Trains believed they could carve a niche in this evolving landscape. However, despite this open market, the reality proved more challenging. The founders faced significant hurdles, including the dominance of legacy national operators, difficulties in sourcing second-hand rolling stock, securing financing, and navigating the complex infrastructure managed by entities closely tied to historical operators.

Financial struggles led to sleepless nights

Fundraising was a persistent challenge for Midnight Trains. Initial efforts garnered support from over forty business angels, allowing the project to take its first steps. Yet, the crucial second round of fundraising needed to launch the inaugural Paris-Milan-Venice route fell short. Despite significant groundwork, including technical specifications, design plans, a selected manufacturer, and an English lessor ready to finance the first trains, the project faltered. early ambitions proved too much, too soon, particularly with intentions towards the British market falling short.

The founders reflected on several critical factors, including the market realities of the night train concept. Seed funding, for what was always a long-term project, was difficult to raise. The team say infrastructure funds showed little interest in rail, and growth funds were reluctant to take commercial risks associated with starting a new business in this sector. Despite raising €1.3 million, Midnight Trains struggled to reach the necessary maturity to secure additional funding and credibility.

Midnight Trains found greater success in appealing to its potential customers than it did to its potential backers. As such, their closure leaves many sympathetic followers on the platform. The Midnight Trains journey underscores the complexities of transforming ambitious visions into reality within the competitive and regulated rail industry. They may have pulled down the blinds on Midnight Trains, but already, almost certainly, someone is dreaming the same dream of bringing a new generation of sleepers to an eager European market.