Romania’s state-owned railway freight carrier CFR Marfa had losses of over EUR 35 million in 2015, up from EUR 6 million in 2014, according to official data from the Finance Ministry.

The company’s turnover went down by 16% year-on-year, to EUR 175 million.

CFR Marfa had EUR 176 million worth of debt and some EUR 52 million to recover from its clients at the end of last year. It had over 6,300 employees, down from more than 7,600 in 2014.

The state failed to privatize the company in 2013 but hasn’t given up this idea while the European Commission asked that CFR Marfa should be liquidated.

editor@romania-insider.com