French state railway SNCF sees 2-billion-euro hole, might need state aid

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French state railway SNCF sees 2-billion-euro hole, might need state aid
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France's state-owned railway company SNCF has lost about 2 billion euros ($2.20 billion) in revenue so far because of the coronavirus lockdown, its chief executive said on Saturday, adding that a government bailout might be needed.

FILE PHOTO: TGV trains are parked at a SNCF depot station in Charenton-le-Pont near Paris during the outbreak of the coronavirus disease in France, April 29, 2020. REUTERS/Charles Platiau/File Photo

With more than 24,500 deaths during the outbreak, France has urged people to stay at home and avoid public transport. The railway company, which also had a prolonged period of strikes last year, said it was considering cutting jobs if business picks up too slowly.

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