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Hellenic Train claims €40mn compensation from Greek state

The Hellenic Train, the private company operating passengers and freight trains across Greece, claims 40 million euros in compensation from the Greek State for traffic disruption after the Tempi tragedy and damages of the rail network caused by storm Daniel.

Talks are currently ongoing between the ministry and HT on the issue of debts, which, however, have not yet come to fruition

Compensations that can reach up to 40 million euros are expected to be claimed by Hellenic Train from the Greek State, after the impact left on its financial results by the long-term suspension of railway traffic both after the tragedy of Tempi and mainly after the destruction of network from storms Daniel and Elias. daily ethnos.gr reported.

“Significant damage”

In total, the losses recorded by the company in 2023, a year that was undoubtedly the worst for the Greek railway due to the Tempi tragedy, which left behind 57 victims and 181 injured, exceed 65 million euros, as can be seen from the financial results were announced on Wednesday.

“For the year 2023, the Company recorded significant losses from the operation of the contract, mainly due to reasons related to the decisions to reduce the transport work that followed the Tempe accident as well as the catastrophic damage to the railway infrastructure of central Greece from the Daniel extreme weather events in September 2023. The Company intends to claim the compensations to which it is contractually entitled for these significant damages,” it states in the financial statements.

According to information obtained by ethnos.gr, the amount that HT will demand in compensation will be close to 40 million euros, as part of the loss of 65 million is attributed to the freight sector, which, although completely collapsed, is not covered by the contract signed by the company with the Greek State.

During this period, talks are ongoing between the ministry and HT on the issue of debts, which, however, have not yet come to fruition. Information from the italian owners’ camp states that no legal action has yet been taken as it is desirable to find a solution outside the courtrooms and that a relative tolerance is being shown given that the parent company is also a State, but this does not mean that this tolerance it is inexhaustible.

After all, as they mention in the results notes, debts from previous years have also accumulated, as the annual price of 50 million euros has not been paid by the State from the year 2022 onward. At the same time, the 4 million in compensation for the period of the pandemic have not been paid, but neither have the amounts of reduced tickets and energy costs, which in total add up to around 16 million euros for 2022 alone.

PS Ah, the Hellenic Train that has shortcomings in maintenance and its train schedules are often cancelled or delayed due to …issues.

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One comment

  1. this is the vulture-capitalist company that bought a couple billion worth of infrastructure for pennies on the dollar, leaving the debts to the public? cry me a river. sympathy meter is stuck at just about zero here.