In compliance with the financial plan of the Ukrzaliznytsia public joint-stock company for 2018, the company will raise passenger fares by 12% from April and 12% from October.
Respective decision was taken by the Cabinet of Ministers of Ukraine on Wednesday, February 14, Ukrainian News Agency reports.
In compliance with the explanatory note to the document, additional revenues from fare rise are expected to by UAH 469.5 million.
As Ukrainian News Agency earlier reported, the Cabinet of Ministers of Ukraine has approved the financial plan of the Ukrzaliznytsia public joint-stock company for 2018 with the profit of UAH 709.879 million and net revenues of UAH 88.377 billion.
The expected Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is UAH 20.173 billion and administrative expenditures - UAH 1.367 billion.
At the end of the year, the PJSC plans to pay UAH 18 billion to the state budget.
Besides, the financial plan envisions capital investments worth UAH 26.948 billion.
The PJSC started its economic operations on December 1, 2015.
In compliance with the international financial reporting standards, in 2016, Ukrzaliznytsia cut its losses 2.3 times or by UAH 9.5 billion to UAH 7.3 billion year over year.
Ukrzaliznytsia incorporates Donetsk, Lviv, Odesa, South, Southwestern, and Prydniprovska state-run railroad enterprises, as well as other production and technological enterprises and organizations engaged in provision of freight and passenger carriages.
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