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Indiaexportnews.com

CEO of MAV Cargo forecasts a loss of 8.8 million tons

  02.10.2009    

According to Imre Kovacs, the CEO of MAV Cargo, the Hungarian unit of Rail Cargo Austria, 33 million tons will be carried by the company in 2009. It would be 8.8 million tons less than in 2008. 
However, the company will not be seriously affected by the decline, due to the previously implemented cost cuts, Kovacs said. They include raising an average speed of MAV Cargo trains from 16 to 25 km/h and buying 60-70 engines by 2011-2012 in order to avoid leasing rolling-stock from MAV Trakcio.
Between January and August, MAV Cargo had revenue from cargo fees of HUF 34.8 billion, down from HUF 46.3 billion in the same period a year earlier, Kovacs said.

Source: Budapest Business Journal




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