Most of Russian Rail Transit Companies Became Profitable

Russian transit transportation companies are becoming profitable - 21 out of 25 companies were profitable, the Gudok quotes Russian Minister of Transport Maxim Sokolov. he made this statement at the meeting on regional rail transportation.

“As a result, 21 out of 25 transit transportation companies reached profitable level at the year-end”, Mr. Sokolov said. The companies are still subsidized by the federal budget though.

Most of Russian transit transportation companies are co-owned and co-financed by OAO RZD and regional governments. Out of 53 regions 42 have financed transit transportation in full; 5 regions do not need additional compensations and 6 regions are not meeting their financial obligations.