EU rail industry loses 26 billion euro in revenue due to pandemic

The EU railway industry lost 26 billion euros in revenue last year due to the COVID-19 pandemic.

These figures are based on data collected among the members of the Community of European Railway and Infrastructure Companies (CER), which largely represent the industry in Europe.

The EU rail freight industry suffered 2 billion in revenue loss compared to the previous year, indicating a 12 percent decrease.

“We all hope for a brighter future at the dawn of the EU Year of Rail, but these figures bring us back to a dire reality”, the organisation said. It presented the figures at the CER General Assembly which took place on 26 January via video conference. “The CER has been monitoring the situation in close collaboration with all our members and the data collected for 2020 reveals the alarming financial impact of COVID-19 on railways.”

While these figures are daunting enough, they only show part of the picture. Freight seems to have managed to somewhat mitigate losses in the second half of 2020.

In 2020, the volumes dropped by 30 percent due at first, but by the end of the year had recovered to normal levels, said Conor Feighan from the European Rail Freight Association (ERFA).

For more information visit erfarail.eu

1st February 2021