Wien Erste Group reported a massive 60 percent drop in net profit in the first half of 2020, and even more than 80 percent in the second quarter alone. This was mainly due to higher value adjustments and loan provisions. Profits will continue to decline in 2020 as a whole. Operating profit fell by 6.2 percent to EUR 1.357 billion by the end of June 2020, and net profit plummeted from EUR 731.9 million to EUR 293.8 million.
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Occupancy halved
Wien The corona crisis halved the utilization of the ÖBB trains. “Ghost trains” like at the height of the pandemic standstill are no longer on the move. In local transport, the occupancy rate is currently 50 to 60 percent compared to the “pre-corona time”. Utilization in long-distance traffic is currently about half as high as before the outbreak of the corona pandemic, the ÖBB said on request from APA.
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Train fusion on rails
Brussels The French railway technology group Alstom has received permission from the EU competition authorities to take over the train division of the Canadian company Bombardier. However, there is a requirement that Alstom fully meets its commitments, as the European Commission reports. Thousands of employees in Germany are also affected.
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