In the fourth quarter of 2015 its rail transportation revenues were $US 2.16bn, compared with $US 2.63bn in the same period in 2014. Full-year results also showed a fall in revenues, from $US 9.61bn in 2014 to $US 8.28bn in 2015.
However, earnings before interest and tax (Ebit) rose in the fourth quarter of 2015 from $US 111m to $US 123m. Over the full year Ebit fell by $US 4m to $US 465m.
Despite this performance the company plans to shed 7,000 jobs in total, with the majority, 3,800 going from its aviation activities. 2,000 of the positions being lost are currently filled by contractors. The company expects restructuring to cost it up to $US 300m over the next two years.