ČD reports losses and cuts costs

On January 21, the Supervisory Board of the Czech Railways (České dráhy) approved the business plan for 2021. It predicts the continuation of the negative impact of the Covid-19 pandemic and provides for austerity measures. It is, in particular, about the reduction of costs and the distribution of some investments over time, informs railway magazine Railway Supply with reference to the company’s website.

ČD reports losses and cuts costs

Despite the savings, ČD does not expect a slowdown in the urgent renewal of the rolling stock and the cessation of investments in the development of the repair base. The plan is aimed at reaching zero by the end of the year. Since the company’s losses from operations in 2020 amounted to more than 4 billion kroons (over 5 billion UAH).

In addition, the reducting of the salaries of the employees of administrative staff working under a contract is being discussed.

Related:

Czech Railways has started a big “sale” of locomotives

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