RZD has launched a cost-cutting programme to reduce costs by Roubles 173.1
billion, but it is forecasting a net loss of Roubles 14.2 billion for
the second quarter of this year.
Nevertheless, Mr Vladimir Yakunin, RZD's president, says the railway invested Roubles
55.7 billion during the first quarter which equates to 22.3% of the
annual investment budget.