ÖBB with Capital Injection for Its Italian Freight Business
Published: June 9, 2011; 18:49 · (Vindobona)
The Austrian Federal Railways’ subsidiary Linea needs additional funding in order to cover its last year’s losses of € 5.8m.
ÖBB with Capital Injection for Its Italian Freight Business / Picture: © Rail Cargo Austria
In an extraordinary meeting the supervisory board of ÖBB’s cargo division RCA opted for a capital injection in its subsidiary Linea. The Italian company’s 120 employees achieved revenue of € 17m in the last year. Losses amounted to € 5.8m. The injection will be used to restore share capital. According to CEO Christian Kern, the negative earnings figures result from one-off…
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