Kiwirail is already heavily taxpayer subsidised, and they still can’t attract customers.
The state transport company KiwiRail has made an impassioned plea for support from the government and public.
They told reporters at the unveiling of their annual report that without their company, New Zealand’s roads would be hopelessly clogged with large trucks – which would be politically unacceptable.
Their comments came as the annual report gave details of an earlier unveiled bottom line loss of almost $167 million.
It made up the difference with government money. But in the year to June, KiwiRail still made an operational profit on day-to-day operations of $91m.
The loss came from the cost of maintaining the company’s 4,000 kilometres of track, 1500 bridges and 150 tunnels.
Last year the government paid Kiwirail $198m. Read more »