This obscure financial link that unites two SNCF subsidiaries for better and for worse


Before the Senate commission, SNCF Réseau acknowledged that 3.8 to 3.9 billion euros would be necessary for the simple regeneration of the single structuring network. JOEL SAGET / AFP

DECRYPTION – The renovation of the railways by SNCF Réseau is dependent on the results of SNCF Voyageurs.

Lifebuoy for one, ball at the foot for the other. When it was created at the time of the major railway reform of 2014, the “state support fundwas supposed to participate in the economic recovery of the manager of the national rail network, the former Réseau Ferré de France (RFF) which became SNCF Réseau, via the allocation of part of the profits of the SNCF group to the former RFF. But although presented at the time as a remedy to save the 30,000 km of French rails from decay, this financial link is now proving insufficient, even poisonous.

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