Net loss of Freight One, Russia’s largest rail transport operator, totaled RUB 1.6 billion (EUR 35.4m) in the first half of 2009, RZD-Partner informs.
Part of the company’s fleet was out of operation due to financial problems. According to Russian Transport Daily Report, in the beginning of the year more than 30 000 cars were out of service.
Another reason which affected the economic situation of the first half of the year is high depreciation cost because of the negative age structure of the rolling stock which is 20 years old in average. In order to optimize the expenses Freight One approved the decision to put out of service the rolling stock totaling 34 000 railcars in H2 2009.
According to Russian Transport Daily Report, the subsidiaries of state-owned Russian Railways (RZD) recorded a loss of RUB 4.2 billion (EUR 92.65m) in H1 of 2009.
Growth in expenses exceeded income by 0.5% compared to the plan. The net loss of rail operators, apart from TransContainer, totaled RUB 3.2 billion (EUR 70.6m) in the mentioned period.
Part of the company’s fleet was out of operation due to financial problems. According to Russian Transport Daily Report, in the beginning of the year more than 30 000 cars were out of service.
Another reason which affected the economic situation of the first half of the year is high depreciation cost because of the negative age structure of the rolling stock which is 20 years old in average. In order to optimize the expenses Freight One approved the decision to put out of service the rolling stock totaling 34 000 railcars in H2 2009.
According to Russian Transport Daily Report, the subsidiaries of state-owned Russian Railways (RZD) recorded a loss of RUB 4.2 billion (EUR 92.65m) in H1 of 2009.
Growth in expenses exceeded income by 0.5% compared to the plan. The net loss of rail operators, apart from TransContainer, totaled RUB 3.2 billion (EUR 70.6m) in the mentioned period.