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Deutsche Bahn expects billions in losses due to the corona crisis

2021-07-29T10:56:55.088Z

The state-owned company expects an operating loss of two billion euros for the current year, but still speaks of a “noticeable upward trend”. There is still no sign of a solution in the wage dispute with the train drivers.



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ICE in Frankfurt: increasing demand

Photo: Arne Dedert / dpa

More demand, but still high losses: Deutsche Bahn will still clearly feel the consequences of the Corona crisis this year. The federally owned group expects an operating loss of around two billion euros for the year as a whole. That would be a significantly better result than last year, when the railway made more than 4.7 billion euros before taxes and interest and the bottom line was even 5.7 billion euros in loss. The lockdown months at the beginning of the year are unlikely to be fully caught up, the group announced when the half-year figures were presented.

In the first six months of this year, Deutsche Bahn recorded a bottom line loss of 1.4 billion euros. In the same period last year, the loss was 3.75 billion euros. But especially since the second quarter there has been a "noticeable upward trend," it said. Gradually the passengers returned. In the second quarter of 2021, the number of travelers would have been 50 percent above the previous year's level.

The consequences of the flood disaster in Rhineland-Palatinate and North Rhine-Westphalia are not yet included in the half-year balance. The group expects damage of around 1.3 billion euros so far. "The devastating flood has made us aware once again how serious the consequences of climate change are," said CEO Richard Lutz. "That is why the rails are more important than ever for sustainable development."

In the meantime, there is still no sign of a solution in the group's collective bargaining dispute with the Union of German Locomotive Drivers (GDL).

The GDL rejected an offer to talk to the group for the time being.

Two weeks ago, the railway proposed that the GDL and the Die Eisenbahn- und Verkehrsgewerkschaft (EVG) should jointly discuss an orderly coexistence.

This offer is insincere, criticized the GDL.

The employer wants to limit the scope of their collective agreements.

Only after a positive conclusion of the current collective bargaining round is the GDL ready for such a discussion.

mic / dpa

Source: spiegel

All business articles on 2021-07-29

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