Przewozy Regionalne records 10 times smaller net loss

Przewozy Regionalne, railway operator recorded a PLN 5.46 million net loss in 2014, nearly 10 times less than in 2013, when its net loss amounted to PLN 54 million. "If it wasn't for debt-servicing costs worth a few hundred million, Przewozy Regionalne would now record operational profits at PLN 10 million," said the firm's CEO, Tomasz Pasikowski. Initially, the company planned the loss to stand at PLN 28 million. This year, it reckons to bring in net profits of PLN 200,000. The company managed to lower its net loss due to an austerity program including re-negotiating agreements with its partners and redundancies in workforce.