RENFE tightens belt

SPAIN:Presenting the national operator’s 2011 budget to parliament on October 7, RENFE President Teófilo Serrano said income was expected to be €2·18bn, with passenger operations providing 87·7% of this. Freight would provide 12·3% or €269m, up from €233m in 2009 and the forecast of €241m for 2010.