The Deutsche Bahn has reported a staggering loss of 1.2 billion euros in the first half of 2024, a significant increase from a loss of 71 million euros in the same period last year.

Factors contributing to this decline include strikes, extreme weather, and a drop in passenger numbers, with 64.2 million travelers using long-distance trains, down 6% from 2023. Punctuality also suffered, with only 62.7% of trains running on time.

In response to these challenges, the company plans to cut 30,000 jobs over five years and implement spending cuts.

Despite the bleak outlook, CEO Richard Lutz remains optimistic about returning to operational profitability by the end of the year, aided by expected federal reimbursements for infrastructure investments.