Elron to get €23.2m subsidy this year
State-owned passenger railway company Elron stands to get €23.2m in subsidies this year, which is a smaller amount than in any of the past three years.
Of the subsidy, €15.6m will be spent on passenger operations, and €7.6m on leases of trains, Elron’s CEO Andrus Ossip told the Baltic News Service.
Elron’s ticket revenue was projected to increase by 6% this year, but this depended to a great extent on repairs along the Tapa-Tartu and Liiva-Rapla sections of the railroad as well as their timetables, Ossip said.
In addition Elron was planning to invest nearly a million euros in its rolling stock and improving the comfort of passengers, Ossip added.
Elron's unaudited operating income in 2015 was €39.4m, 16% less than in 2014.
The subsidy paid to Elron in 2015 was €27.2m and €30.6m in 2014.