Article Tools

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…

This article includes a total of 176 words.

or Log In

Fast News Search
Related News
ÖBB: Opposition to Privatization Plans (June 6, 2011)
ÖBB: No Sale of Loss-Making Rail Cargo Hungaria (May 27, 2011)
Surprisingly Good First Quarter Results for ÖBB (May 23, 2011)
Massive Losses for Federal Railroad (April 29, 2011)
Kern Leads an Image Campaign for ÖBB (April 25, 2011)
ÖBB Promote Construction of the Brenner Tunnel (April 13, 2011)
Read More
OEBB Austrian Railways, RCA Rail Cargo Austria, Christian Kern, Italy, Transport Industry, Railway Industry
Featured
Updated Directory of Foreign Ambassadors in Austria 2018
List of National Days of the home countries of all foreign Missions and Delegations in Vienna, Austria
See latest Vindobona Newsletter