Austrian Railways Aims for Expansion in SEE

People ♦ Published: April 16, 2012; 16:13 ♦ (Vindobona)

ÖBB (Austrian Railways) wants to establish a new freight subsidiary operating in Southeastern Europe. In Austria, ÖBB performs better than expected.

Austrian Railways Aims for Expansion in SEE / Picture: © ÖBB-Holding AG / Sabine Hauswirth

ÖBB´s CEO Christian Kern intends to continue the company´s course of raising earnings and putting effort into austerity measures. Last year, ÖBB recorded losses of € 28m. At least, this is a substantial improvement against 2010, where ÖBB´s losses totaled € 330m. Kern expects not to leave the loss area this year. However, the turnaround is planned to reach in 2013. The…