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Business

Deutsche Bahn Satisfied with Improved Price System

Deutsche Bahn CEO Hartmut Mehdorn has said he's "satisfied" with the improved new ticket pricing system introduced by the comapny in August. Mehdorn didn't give any numbers, but said that given the poor economic situation in Germany at the moment, the company can be happy with the results so far. Deutsche Bahn, Germany's national railway, first introduced its new price system in December, but was forced to revise it after enduring months of criticism for being too complicated and expensive. Sales of tickets on the company's rail lines dropped by hundreds of millions of euros. Under the revamped system, Deutsche Bahn has brought back the "Bahncard" which offers regular customers half-price tickets. It has also simplified the discount system for early bookers. Mehdorn also stated that the government-owned Bahn is not contemplating an initial public offering at this time.