October 23, 2019 / 11:56 AM / 23 days ago

Deutsche Bahn faces higher-than-expected loss this year: document

FILE PHOTO: Trains of German railway Deutsche Bahn are seen at the main train station in Frankfurt, Germany, March 27, 2019. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) - German rail operator Deutsche Bahn is facing a “dramatic” situation at its cargo unit due to an economic downturn which could lead to a higher-than-expected loss this year, an internal document seen by Reuters showed on Wednesday.

The current industry recession has increased pressure on Deutsche Bahn’s cargo unit and the risk of new impairment for the state-owned company is rising, according to a draft letter seen by Reuters.

Deutsche Bahn said the draft letter cited by Reuters was a yet unapproved version which was not agreed by the management.

Reporting by Markus Wacket; Writing by Michael Nienaber,; Editing by Tassilo Hummel

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