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Wednesday, 12 August 2020

Egypt railway revenues drop 34 percent in 2013

Following the July 2013 ouster of Islamist president Morsi, passenger rail was largely suspended across the country, leading to significant losses, according to government statistics

Ahram Online, Wednesday 5 Feb 2014
Egypt Railways
A logo on a train reads "Egypt Railways (Photo: Reuters)
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Egypt’s Railway Authority revenues declined 34 percent in 2013 compared to the previous year, losing a total of LE398 million ($57 million), according to the Cabinet's Information and Decision Support Centre (IDSC).
 
Revenues from passenger rail fell 39 percent, registering LE611 million ($88 million), while those from commercial rail dropped five percent to hit LE145 million ($21 million) in 2013.
 
The Railway Authority suspended most of its operations over security concerns following the forced dispersal of two pro-Muslim Brotherhood sit-ins last August.
 
While commercial rail is currently operating at full capacity, only 62 percent of passenger trains are running, the spokesperson of the Railway Authority told Ahram Online Wednesday.
 
The sharpest drop was in September 2013 when revenues fell by as much as 41 percent year-on-year, to record a mere LE6 million ($861,000).
 
Last November, the Railway Authority announced a state of high alert ahead of ousted president Mohamed Morsi's first appearance in court.
 
A wave of bomb attacks hit Egypt following the ouster of Morsi in July, resulting in security concerns relative to Egypt's transportation system.
 
Blasts reached the capital when a car bomb targetted the minister of interior in a failed assassination attempt last September.
 
According to the Railway Authority's website, Egyptian railways transport around 500 million passengers annually (1.4 million per day).
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