Austrian Federal Railways announces 12 percent increase to 2015 profits

GMT 23:39 2016 Friday ,22 April

Arab Today, arab today Austrian Federal Railways announces 12 percent increase to 2015 profits

OeBB train
Vienna - XINHUA

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.

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