EXCLUSIVE: Romanian Govt To Allow State-Run Passenger Railway Co To Hike Ticket Prices

Romania’s Government will allow state-run passenger railway company CFR Calatori to increase train ticket prices to better cover costs and render the company’s activity more effective, according to the Government’s letter of intent to the IMF, obtained by MEDIAFAX.

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CFR Calatori increased train ticket prices by 8% in September 2010.

The strategic plan for CFR Calatori aims at a 15% reduction of losses this year, accumulating no more arrears and restructuring the carrier to enhance its activity.

The company estimates revenues obtained from tickets amounted to 745 million lei (EUR1=RON4.2600) last year, while in 2009 they hit RON843.950.

CFR Calatori traffic dropped 5% in 2010 to 58 million passengers, from 61.07 million in 2009, according to the company's estimated results.

The passenger carrier estimates traffic in 2011 will remain at the last year's level.

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