Scenic trains put brakes on KiwiRail earnings

The ageing Kaitaki ferry approaches Allports Island.

Wed, 24 Feb 2021

KiwiRail's scenic rail network has subdued the performance of the company.The owner and operator of the country's rail network and Cook Strait ferries reported a year-on-year increase of $1.7 million in its operating surplus for the six months to Dec 31, to $28.6m on a $4.8m improvement in revenues to $338.4m.Chief executive Greg Miller said the results had come despite border closures and impacts on its TransAlpine, Coastal Pacific and Northern Explorer, which had seen ticket returns down by almost two-thirds, or $7.6m compared to Dece...

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