KiwiRail has reported an increased loss. The state-owned rail operator lost $248 million in the year to the end of June - $73 million more than the previous year.
The company's profit has been heavily affected by devaluing its assets, including its ageing tracks, rail stock and ferries - that alone totalled $339 million.
But it remained another difficult year for the rail operator.
Its gross earnings fell by 28 percent to $77.5, due to the inter-island ferry Aratere ferry being out of commission after losing a propeller, and the temporary lost of 20 percent of its trains to remove asbestos.
A slow-down in log and dairy markets also hurt its revenue.
The Government has already committed more than $1 billion to help fix Kiwirail since 2010.
However, KiwiRail indicated that will not be enough and will carry out a review of its operations to identify where it can cut costs.
The Aratere's problems have cost KiwiRail dearly. Photo: RNZ
