Swiss Federal Railways will purchase 21 high-speed trainsets outright for international passenger services, with options for a further 20, the operator announced on September 25. The decision reverses a previous plan to procure up to 40 trainsets through a 15-year operating lease.

SBB reached the conclusion after a detailed assessment of procurement and financing options. The operator judged that outright ownership would be compatible with its long-term investment planning and more economical over the lifecycle of the fleet — a claim that suppliers and lessors will now have to test in a competitive tender, which SBB intends to call in the first half of 2027.

The September 25 decision also terminates a prequalification procedure for potential leasing companies that SBB had launched earlier in 2025. That process is now dead, and manufacturers will instead compete for a conventional supply contract.

Ownership, SBB argues, brings operational advantages beyond the balance sheet. The operator says owning the trains would give it greater flexibility to develop international services, strengthen co-operation with partner railways, and adjust capacity more readily as cross-border demand evolves. Whether those benefits materialise will depend on how quickly SBB exercises the 20-train option once future service requirements become clearer.

Growing cross-border market

The procurement forms part of SBB's longer-term strategy to expand international passenger services as rail travel to neighbouring countries continues to grow. SBB has previously identified demand for up to 40 trainsets, matching the scale of the original leasing plan; the base order of 21 plus the option for 20 preserves that ceiling while deferring the final commitment.

Italy and France are the principal international markets SBB has identified. The operator had also considered potential future services to destinations including Barcelona and London, although neither is part of the confirmed fleet requirement.

The new trains will eventually add to or replace part of SBB's existing international high-speed fleet. That fleet currently comprises 19 Alstom New Pendolino tilting trainsets, branded Astoro by SBB, which run on international services between Switzerland, Germany, Austria and Italy. The Astoro sets have a maximum speed of 250 km/h and entered service from 2009 — putting them within the age range where replacement planning typically begins.

Alongside the tilting fleet, SBB operates 41 Stadler Smile/Giruno trainsets, which form the backbone of its international passenger services on the north-south axis through the Gotthard corridor. The Giruno order, itself a response to capacity demand on the key Zurich–Milan route, illustrates the scale at which SBB has been building its cross-border offer.

Tender ahead

The supply tender in the first half of 2027 will determine which manufacturer — or manufacturers — builds the new fleet, and on what timetable. Alstom and Stadler are the incumbent suppliers for SBB's international high-speed operations, but the size of the order, potentially reaching 41 trainsets if the option is exercised in full, is large enough to attract bids from other major European builders such as Siemens and Hitachi Rail.

No delivery dates, pricing or technical specifications have been disclosed. What is fixed is the strategic direction: SBB has committed capital ownership over operating leases for the next generation of its cross-border fleet, betting that direct control of the assets will serve it better as international demand grows.