New Infrastructure Minister given task of removing Ukrzaliznytsia from bankruptcy – Zelensky

12:29, 15.06.2021 1 min read

New Minister of Infrastructure Oleksiy Kubrakov has been tasked with withdrawing Ukrzaliznytsia from bankruptcy, Ukrainian President Volodymyr Zelensky has said.

"I saw completely their mathematics, their picture, debts ... They [Ukrzaliznytsia] are completely bankrupt ... Now new minister Kubrakov has come. He has been tasked to move from bankruptcy to an enterprise that makes money," the president said in the course of communication with journalists at the all-Ukrainian forum Ukraine 30.

"I would transfer all the stations to concession, let people earn money and provide comfort," Zelensky said.

As reported, Ukrzaliznytsia in 2019 increased its net profit by 14.7 times, to UAH 2.988 billion (UAH 203.85 million in 2018). In 2020, the company received a net loss of UAH 11.9 billion.