December 19, 2019 / 3:24 PM / 2 months ago

Deutsche Bahn aims to sell locomotives, rail cars to avoid loss: documents

FILE PHOTO: Deutsche Bahn employees stand next to an ICE high-speed train at the main train station in Frankfurt, Germany, July 30, 2019. REUTERS/Ralph Orlowski

BERLIN (Reuters) - Germany’s state-owned rail operator Deutsche Bahn wants to avoid one-off write-downs and a loss by selling 150 of its locomotives and 5,000 freight rail cars in a sale and leaseback deal, company documents seen by Reuters showed on Thursday.

The sale is expected to generate proceeds of 1 billion euros ($1.1 billion), according to the documents.

Under the plan, Deutsche Bahn’s freight division will lease all of its locomotives and rail cars from 2029 onwards.

A company spokeswoman declined to comment on internal documents.

Reporting by Markus Wacket; writing by Thomas Seythal, editing by Thomas Escritt

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