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GySEV needs HUF 7.6 bln from state to cover costs

GySEV, a regional railway owned by the states of Hungary and Austria, will need HUF 1.9 billion in state money to maintain its tracks and another HUF 5.7 billion to support passenger service in 2011, CEO Ilona Dávid told daily Magyar Hírlap.

Revenue from fares in Hungary is not enough to cover costs, Dávid said. GySEV gets funding from Burgenland, in Austria, based on performance, she added.

The state of Hungary owns 61% of GySEV, the state of Austria holds 33.3% and Austrian construction company Strabag holds 5.7%, according to GySEV's website. (MTI – Econews)