Austrian Railways Reduced Losses

People ♦ Published: January 19, 2012; 19:56 ♦ (Vindobona)

The Austrian Railways (ÖBB) is still in the red. Nevertheless, losses were lower than initially expected.

Austrian Railways Reduced Losses / Picture: ©

In 2011, losses reached € 28m. This is significantly lower than it was feared previously. In 2010, losses of € 330m were recorded. For CEO Christian Kern, this is a “success”. Operating results from the three divisions are all positive, Kern emphasized. Even the loss-making Rail Cargo Hungaria showed slight operating profits.

According to Kern, these results are due to a…