PKP PLK suffers over PLN 700m loss in 2012
February 21, 2013
Polish state-owned railway infrastructure operator PKP PLK recorded a loss of over PLN 700 million in 2012, rail group PKP CEO Jakub Karnowski told journalists on Wednesday.
Karnowski blamed the deterioration in the financial results partly on the amount of maintenance works on the rail tracks and said that the loss could widen further, if no actions are taken.
PKP could shut down train traffic on about 2,000 unused or little used rail lines which could bring savings of about PLN 60-80 million a year, Karnowski added.
PKP PLK's losses have been steadily worsening over the past few years with a PLN 598.2 million net loss in 2011, PLN 443.8 million in 2010 and PLN 351 million in 2009.