Spectator on facebook

Spectator on facebook

CORPORATE NEWS

ŽSR loses 3.9bn Sk in Jan-Aug 97

Slovak Railways' (ŽSR) losses for 1996 were not 500 million Sk as originally reported, but in fact 2.5 billion Sk ($75 million). This was the result of some 1996 costs appearing in the 1997 books, said ŽSR director Michal Lazar. However, the current loss of 3.9 billion Sk for the first eight months of 1997 should not increase further, he added. Lazar said it will take at least three to four years for the company to recover. ŽSR's current debt burden is 10.2 billion Sk, 5 billion up from last April.

Regarding ŽSR's total assets worth 59 billion Sk, it is still workable. The company's management has reevaluated the discounts it provided in freight transport. For instance, the discount for VSŽ was as high as 13 percent off the regular price, and it saved VSŽ hundreds of million s of crowns. The Transportation Ministry and ŽSR have suggested a 20 percent increase in individual transport fees starting January 1, 1998, but the government has yet to approve the measure.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

People marched for LGBTI rights in Bratislava

Take a look at the Bratislava Rainbow Pride 2018 that took place on Saturday, July 14.

First Slovak LGBTI activist has fought for 40 years

Czechoslovakia was one of the first countries to say homosexuality is not a crime, also thanks to the first activists like Imrich Matyáš.

Imrich Matyáš (r) met with German publicist and lawyer Kurt Hiller (second r) in Ľubochňa in 1935.

Measles might spread further west

Police will assist the vaccination in communities from where the epidemic spread.

This is why I support the Pride march

There is still a lot of work ahead of us in the United States, in Slovakia, and around the world to fight for equal rights for everyone no matter who they are or who they love, writer US Ambassador to Slovakia.

Slovakia's first Gay Pride parade crossed Bratislava's New Bridge on May 22.