Cancelling ferries cost KiwiRail near half billion dollars
Annual accounts show KiwiRail struggling, and cancelling the order for two rail-enabled Cook Strait ferries has cost it $468.8m, so far.
KiwiRail has reported a lower operating surplus for the 2023/24 year than the year before.
KiwiRail has reported tough trading conditions in the past financial year as it starts consulting with its staff over changes to the business and likely job losses.
And cancelling the order for two rail-enabled Cook Strait ferries cost KiwiRail $468.8m so far, notes to financial accounts say.
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