PKP predicts zl.1.08 billion losses this year as passenger numbers dwindle

Polish State Railways (PKP) is forecasting that losses from its overall group operations will amount to zl.1.08 billion in 2002. The company is currently funding several major investment projects, which are responsible in part for the negative result. But it also faces a problem of declining passenger numbers. PKP expects to carry 300 million passengers this year, an 8% fall from 2001. According to the most recent estimate the company made a net loss of some zl.1.9 billion in the whole of last year. The PKP management envisages the company being profitable as early as 2003, after the on-going investment plans are fulfilled. (Rzeczpospolita, p. B3) M.T.