Romanian Railroad Passenger Traffic Dn 5% In 2010

Romanian state-owned railway passenger carrier CFR Calatori reported a 5% drop in traffic in 2010, to 58 million passengers, from 61.07 million, while the state's subsidy was raised by 4%, to 1.15 billion lei (EUR1=RON4.2626), according to the company's preliminary results.

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In 2009, CFR Calatori received a subsidy in the amount of RON1.1 billion, RON620 million less than what it requested. For 2010, the company requested RON1.72 billion and RON1.26 billion for 2011.

The carrier's revenue after the first eleven months of last year amounted to RON1.82 billion, while its turnover in 2009 was RON2.03 billion.

CFR Calatori cut its losses drastically in 2010, to RON30 million from RON210.37 million, by cancelling a number of trains, reducing and rationalizing material and fuel consumption, reanalyzing certain outsourcing contracts and the furlough program between August 15 and December 30.

The state budget has allotted the carrier RON250 million for investments, which will be used to buy new vehicles and modernize its rolling stock.

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