Chiltern Railways continued in the red in the financial year to 3 January 2009, but reduced operating losses by over 43%, according to its latest annual accounts.

The company, now owned by German state rail operator Deutsche Bahn, recorded a loss of £4.4m, against £7.7m the previous year, as the business continued to recover from the losses sustained by the closure of the line following the collapse of the Gerrards Cross Tunnel in 2005.  The loss margin was 3.3% compared with 6.2% last time.

The company recorded strong growth in passenger revenue, resulting in a 6.3% rise in turnover, despite a cut of some £5.5m in revenue grant payments during the financial year.

More details on the TAS Business Monitor web site.