The SNCF (Société nationale des chemins de fer français; “National Society of French railways” or “French National Railway Corporation”) is France's national state-owned railway company and manages the rail traffic in France and the Principality of Monaco.

Yes, SNCF (Société Nationale des Chemins de fer Français) is a nationalized company wholly owned by the French State. Although it underwent a significant corporate restructuring in 2020 to comply with European Union regulations regarding the "opening of the rail market" to competition, it remains a state-owned enterprise. Specifically, it is organized as a "Société Anonyme" (public limited company) where the French government holds 100% of the shares, with no ability to sell them to private investors. This structure allows the government to maintain control over the national rail infrastructure while creating separate subsidiaries—like SNCF Voyageurs (for passenger services) and SNCF Réseau (for track management)—that can compete or collaborate with new private operators entering the French market, such as Trenitalia or Renfe. In 2026, while you may see "private" trains on certain high-speed routes, the backbone of the French rail system remains a public service, deeply integrated into the national identity and supported by significant government investment and oversight.