ÖBB: Massive Losses in Ireland
The ÖBB had to write off € 260m because of a sale and lease-back transaction.
The already ailing Austrian Railways Group receives bad news from Ireland. In 2002, 160 Taurus locomotives were sold to a U.S. investor and leased back until 2029. This sale and leaseback transaction results now in a massive write off by the Austrian Federal Railways.
The background is the bad credit of Ireland, since the proceeds from the sale, which are to fund simultaneously…