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Poland’s biggest freight train operator in the red

PKP Cargo

PKP Cargo, Poland’s biggest freight train operator, saw a net loss of PLN 128.5 million (EUR 30 million, USD 34 million) in the second quarter of 2016, the PAP news agency has reported.

PKP Cargo said that the net loss for the first half of the year was PLN 194 million.
Contributing to the poor financial result was a difficult situation in the railway transportation sector, and low demand for such services, as well as low coal prices, PAP said.

PKP Cargo spent PLN 267.5 million in the first half of 2016 investing in new trains, as well as repairing and modernizing those already owned by the company.

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