{"id":136231,"date":"2024-10-03T18:54:25","date_gmt":"2024-10-03T08:54:25","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=56757"},"modified":"2024-10-03T18:54:25","modified_gmt":"2024-10-03T08:54:25","slug":"german-industry-disagrees-on-how-db-schenker-billions-should-be-spent","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=136231","title":{"rendered":"German industry disagrees on how DB Schenker billions should be spent"},"content":{"rendered":"

The sale of DB Schenker has made headlines, and the two-year long sale saga has now come to an end. However, disagreements on the aftermath of the takeover by DSV still remain. For example, there are differing views on how the billions of euros acquired by Deutsche Bahn (DB) should be spent. German trade union EVG and rail freight association Die G\u00fcterbahnen take opposing positions on the matter.<\/strong>
\n<\/span>The initial reason for the sale of DB Schenker was to reduce<\/a> Deutsche Bahn\u2019s debt burden, which exceeds<\/a> 30 billion euros. Trade union EVG, which opposed the sale and called it a \u201cstrategic mistake\u201d, now hopes that the funds will be used for that reason. However, it also says that the sale is focused on short-term revenue, and omits long-term financial considerations.<\/p>\n

“We now expect a clear commitment that the sales proceeds must be used to reduce DB’s debt. This is necessary in order not to jeopardize the group’s financial flexibility\u201d, the trade union says. It also maintains that DB should invest in new vehicles and better service quality to be \u201cfuture-proof\u201d.<\/p>\n

Infrastructure, on the other hand, should be financed by the federal government, EVG. \u201cThe federal government must finally take responsibility by providing multi-year financing. Deutsche Bahn must not become [finance minister] Christian Lindner’s cash cow. The railway employees are not the ones who clean up after a misguided budget policy.”<\/p>\n