CFR Calatori business up 25% due to state subsidy

The growth was supported by an increase in subsidies for the state-controlled operator. For the first nine months, the subsidy amounted to €274.8 million, some 42 percent higher year-on-year, during which time CFR Calatori
had 57,920 passengers.

Dumitrescu said that CFR Calatori launched several investment programs to modernize its rolling stock. For 2009-2010, the company needs some €475 million from the state budget for investments, he added.

CFR Calatori posted €36 million in net earnings in the first nine months of 2008. However, its cumulated losses from the previous years amount to €79 million.