Railways lose $110M
PA Wellington The Railways Corporation lost $110.7 million in
the 1988-87 year, according to the annual report tabled in Parliament. The Minister of Railways, Mr Prebble, said the loss was no surprise, and had been allowed for in the Budget when the Government said it would restructure Railways “think big” debts in the next financial year. “When you change and rebuild an organisation
the size of the Railways it is not going to be cheap.
“Railways have made real progress in the last year, and I believe have now developed a momentum for change which will pay off in the long run,” he said. The report also predicted a marginal profit within two ysars, as well as a continuing place for passenger trains in the long-term future.
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Press, 23 July 1987, Page 23
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130Railways lose $110M Press, 23 July 1987, Page 23
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