Polish railways in the red

14th August 2010

PKP loses reached over PLN 676 mln last year

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The Polish State Railways (PKP) subsidiaries have been hit hard during the economic crisis with losses totalling over PLN 670 mln in 2009. According to experts, the only way to salvage the state railway is with major restructuring.

“In 2007, the activity of PKP Group was practically balanced. But the crisis came. If it wasn’t for the crisis the financial results of the PKP Group would be completely different,” said Andrzej Wach, CEO and Chairman of the Board of PKP to Gazeta Wyborcza.

In 2009, losses totalled PLN 676.7 mln. Out of the nine subsidiaries, only four ended the year with positive results. PKP Cargo fared the worst, as it lost over PLN 495 mln last year.

“However ...

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