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RIA Novosti

Business

Russia's RZD posts $800 mln loss in 1Q09

17:59 09/04/2009
MOSCOW, April 9 (RIA Novosti) -- Russian railroad monopoly RZD said Thursday its losses in the first three months of 2009 were 26.8 billion rubles ($800 mln), while second-quarter losses were expected at 14.2 billion rubles ($418 mln).

The 2009 net losses of RZD, or Russian Railways, could total 49.7 billion rubles ($1.5 billion), the director of the monopoly's corporate finance department said.

"This year's losses are expected at 49.7 billion," Olga Gnedkova said.

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