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Tuesday, May 24, 2022

Deutsche Bahn: German rail firm kept on track with €2.1 billion bailout

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Germany’s rail operator, Deutsche Bahn, will receive €2.1 billion in bailout cash from the government, with most of the money going to its subsidiary Deutsche Bahn-Netz which handles rail infrastructure.

The aid comes after a catastrophic 18 months for Deutsche Bahn, which racked up more than €4 billion in losses during the COVID-19 pandemic due to fewer passengers.

In October, the company announced a fare hike of 1.9% — effective December 2021 — in an attempt to bridge the gap.

The German government had already supported the rail operator with €500 million, but this time most of the emergency funds will go to DB-Netz.

Watch the full report in the video player, above.

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