The Slovenia Times

Rail Operator Expects Minimal Loss in 2012

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Mes also told the STA that the company will have spent between EUR 5m to EUR 6m on severances by the end of the year.

The loss generated in the first six months is lower than in the first quarter of the year, when it was at EUR 8m. A revised business plan for 2012 is to be discussed by the company's supervisory board next week.

Revenue in cargo transport dropped by some 10% in the first half of the year, which is similar to rival rail operators, meaning Italian, Austrian and Croatian, which are recording losses between 8% and 30%, according to Mes.

Slovenske ┼żeleznice adopted in May measures that are expected to bring in EUR 14.2m this year and EUR 14m in 2013. In line with the measures, some 500 employees will leave the company by the end of the year.

He also touched on Croatia's plans to scrap several rail connections with Slovenia, saying Slovenske ┼żeleznce was negotiating to preserve at least some of the links. All national rail operators were in the red and were forced to reorganise and scrap unprofitable links, Mes added.
 

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