Off the wire
• U.S. dollar rises against most major currencies  • Slovenian adventure pilot completes 3rd round-the-world solo flight  • ECB defends expansionary monetary policy against intensifying criticism  • Uganda' s Olympic gold medalist to miss London Marathon  • EAC ministers meet for fast tracking regional development, security  • Crude prices rise amid shrinking output  • Rwanda team arrives in Uganda ahead of 2017 Africa U-20 Championship qualifier  • UAE green city firm hails Solar Impulse 2 resumes round-the-globe flight  • UAE earmarks 4 bln USD to support Egypt's economy  • 1st LD Writethru: Gold down more than 1 percent on stronger U.S. dollar  
You are here: 　 Home

Austrian Federal Railways announces 12 pct increase to 2015 profits

Xinhua, April 23, 2016 Adjust font size:

The state-owned Austrian Federal Railways (OeBB) on Friday announced a 12 percent increase to its 2015 profits to reach a pre-tax 192.8 million euros (216.58 million U.S. dollars).

At a press conference to announce the results, company CEO Christian Kern said the OeBB had managed to increased its figures "for the fifth time in a row."

Its passenger transport division saw a three-million person boost to 238 million passengers, with a two-percent increase noted in long-distance travel.

Freight transport was less positive, however, Kern called it a "brutal year." The OeBB nonetheless managed to be the most profitable freight railway company in Europe, seeing pre-tax profits in this division decrease slightly from 58.9 million euros to 57.2 million euros for the year.

Kern said he sees chances for business in the night travel segment, with several Italian cities to see increased train services. He said that as German rail operator Deutsche Bahn also plans to withdraw from night services, the OeBB is in talks to step in in the neighbouring country.

The company head also noted that nine new Railjet trains, its long-distance flagship, will come into operation by the end of 2016, and that 101 of its new shorter-distance Cityjet railcars are to be in operation by the end of 2017. Endit