CFR Calatori estimates 44 pc higher losses

CFR Calatori expects to end this year with losses of RON 427.2 M, 44 pc higher than the negative result provided by the budget for 2012, which amounted to RON 296 M, Mediafax reports. According to the draft budget for 2013, the railway passenger transporter estimates incomes of RON 1.97 bln and expenses of RON 2.39 bln. The budget for last year, approved in April 2012, provided 17 pc higher incomes, of RON 2.32 bln and expenses similar to those scheduled for this year, of RON 2.43 bln.According to data reported to the Ministry of Finance, the state company had a net profit of RON 1.5 M in 2011, after total losses that exceeded RON 690 M during 2007 – 2010. CFR Calatori plans to spend this year RON 821.8 M for goods and services and RON 660.3 M with the personnel. The latter include, among others, RON 434.4 M as salary expenses, RON 3 M as bonuses and RON 90,000 for the mandate contract. The draft budget provides no sum for expenses with compensatory payments relative to layoffs.

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