The blue army saw a record loss in 2000

Article Abstract:

Ceske drahy (CD) (Prague, Czech Republic), Czech Railways, saw a loss of CEK 4.9 bil in 2000, in spite of a state subsidy of CEK 6.5 bil. CD has cumulated a total loss of over CEK 30 bil since 1993. The firm's total revenues amounted to CEK 38.3 bil in 2000, 2.5% more compared to 1999. CD transported 89.7 mil t of goods in 2000, 9% more compared to 1999. It transported 182 mil passengers in 2000, about 4% more compared to 1999. CD had total receivables of CEK 4.32 bil including overdue receivables of CEK 2 bil at the end of Dec 2000. It had payables of CEK 6.26 bil including overdue payables of CEK 3.88 bil at the end of 2000. CD's costs amounted to CEK 43.2 bil in 2000, 4.3% more compared to 1999. CEK 15.2 bil of the sum was represented by wage costs. In 2000 CD decreased the number of its employees by 2,771 to the current 84,873 persons.

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CD raises its passenger and goods transport but its loss increases

Article Abstract:

Ceske drahy (Prague, Czech Republic), Czech Railways, losses in CEK bil Year 1995 1996 1997 1998 1999 2000 --------------------------------------------------------- Loss -3.093 -4.744 -4.699 -3.990 -3.964 -4.838 >TE

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Ceske Drahy expects a similar loss in 2001 as in 2000

Article Abstract:

Ceske drahy (CD) (Prague, Czech Republic), Czech Railways, expects a loss of about CEK 4.5 bil in 2001. The firm's profit from goods transport should be CEK 2.7 bil and its profit from other activities about amount to CEK 750 mil in 2001. CD expects an uncovered loss of CEK 8 bil from passenger transport in 2001. In 2000 CD saw a loss of CEK 4.84 bil. Revenues from fares cover roughly 30% of CD's costs. CD will dismiss about 2,400 of its 85,000 employees in 2001. The number of the firm's employees should decrease by 14,000 by 2005.

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