Polish railways stems losses - but ticket sales fall too

One contract would be for the supply of 11 new electric tracks (EZT), the second for modernization of 75 old EZT and the last for the refurbishment of 81 carriages that run on cross-voivodship routes. The company will be able to finance the undertaking thanks in large part to a EUR 51 million grant received from the Infrastructure Ministry and to a lesser extent from its own funds. PKP PR can also be satisfied that the net loss for 2004 is expected to shrink by zł.480 million to reach zł.760 million as compared to zł.1.24 billion in 2003. Detlaff says he is satisfied with the results because, for the first time, PKP PR stemmed the deepening trend of losses. However, revenue from ticket sales fell from zł.1.202 billion to zł.1.184 billion, casting a shadow over the future as it suggests travelers have started to switch to other means of transport. PKP PR's results are also being dragged down by the zł.893 million debts that need to be paid immediately. (Puls Biznesu pp.1,6) M.G.