Spain Investment Immigration focus on Life in Spain: The Spanish high-speed rail company RENFE expects that in 2013, the passenger volume of the high-speed rail system will increase by 19% compared to last year. This is attributed to the reduction in ticket prices, and the opening of the high-speed rail line from Barcelona to Girona has also provided momentum for the development of the high-speed rail company.
Julio Gomez-Pomar, President of RENFE, announced the company's budget and financial status during a routine meeting at the Parliament.
In his report, Julio emphasized that RENFE will see a 4% increase in commercial revenue this year compared to last year. The new routes and the passengers attracted by the price reductions are expected to increase RENFE's ticket revenue by 4.4%. However, given the overall economic environment in Spain, the profit margin for RENFE remains very limited.
The situation in 2013 has improved compared to 2012. As of September, the number of passengers on RENFE's high-speed AVE trains and long-distance express trains increased by 12.5%, which brought a 2% profit growth in revenue for similar services during the same period.
Since February 8th of this year, RENFE has reduced the prices of its Turista and Turista+ tickets by 11% across the board. Other types of tickets can receive discounts of up to 70% through various promotional channels and methods. Additionally, a 10-trip ticket offering a 35% discount has been introduced, young people can receive a 30% discount, and connecting tickets offer a 20% discount. Furthermore, long-distance RENFE tickets now provide access to metro systems in major cities.