Deutsche Bahn posts €2.4 billion loss for 2023

Germany's railway operator Deutsche Bahn posted a loss of €2.4 billion last year, the company announced on Thursday.

The heavy losses come amid rolling strikes, major construction work and rising costs across the board. The operator said that nearly one-third of trains were delayed in 2023, down from year earlier.It also said 64% of long-distance trains were on time in 2023, down compared to 65.2% in 2022.

A train is considered to be on time if it is less than six minutes late. These delays were caused by a number of factors including overloaded routes, renovations on sections of the network, and worker strikes. It is now aiming for a punctuality rate of 70% and a return to profitability again this year.