By Keith Barrow, International Railway Journal; September 13, 2018
GERMAN Rail (DB) chief executive Dr Richard Lutz has instigated emergency spending controls as the company seeks to avoid another profit warning and slow the increase in its debts, which are nearing €20bn.
In an letter to senior executives, which was obtained by German news magazine Der Spiegel, Lutz warned that the group is in “a difficult situation” and strict spending limits are being imposed across the company “until further notice.”
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