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German railway Deutsche Bahn to raise fares

German railway Deutsche Bahn to raise fares

Germany's national railway Deutsche Bahn AG will raise fares later this year because of higher fuel prices and personnel costs, the company said Monday.
Deutsche Bahn said it couldn't offset the increased costs through efficiency measures. The new fares will take effect at the onset of the company's new timetable in mid-December, officials said.
Deutsche Bahn CEO Hartmut Mehdorn said customers shouldn't expect a "price explosion," but didn't say by how much it would raise prices.
"Never have so many people in Germany ridden trains as in the first six months of this year; and never has so much freight been transported on the rails," Mehdorn said during the announcement of the company's half year results in Frankfurt.
The company, which is not stock market listed, said its pretax profit in the January through June period increased 6.8 percent to euro1.4 billion from about euro1.3 billion in the first half of 2007.
Deutsche Bahn increased sales by more than 8 percent to euro16.6 billion (US$24.40 billion) in the first six months, from euro15.3 billion a year ago.
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On the Net:
http://www.deutschebahn.com


Updated : 2021-10-16 07:55 GMT+08:00