Growth in passenger numbers averaged 2.3% across all services between September and December, and regional services lead the recovery with a 6.1% increase during this period. Ridership increased by 5.9% on Porto suburban services, 4.3% on long-distance trains, and 0.8% on suburban routes in the Lisbon area.

However, this upturn did little to improve CP's 2013 revenues, which were down 3.2% compared with the previous year. CP says Ebitda "remains positive" at €2013, although it has been offset by Christmas and holiday bonuses for employees, which have cost a total of €12m.

Overall CP made a loss of €20m last year, compared with €37m in 2012, when passenger traffic plunged by 11%.