Deutsche Bahn to continue investment program despite losses

by   CIJ Linguistics
2020-08-03   08:44

Deutsche Bahn made its biggest ever loss during the first half of 2020. The state-owned transport company lost €3.7 billion, as passenger numbers fell 37 percent to a little less than 663 million. Revenues dropped nearly 12 percent to €19.4 billion. Despite the horrific results, the company says it will continue to invest and even to hire new employees in order to meet the goals of the government's climate protection program. DB made an operational loss of €1.8 billion for the first six months, and it predicted a €3.5 billion operational loss for the entire year. The company's poor financial results were also impcated by €1.4 billion in depreciation on the value of its local transport subsidiary Arriva.