The Challenge
Hellenic Railways Organization (OSE) had to engage in a significant restructuring effort as a result of accumulated economic losses and poor performance of railways as a transportation mode in Greece.
As such the organization had to develop and implement a number of business plans with primary scope the documentation of the restructuring measures to be taken by the organization, such business plans being closely monitored both by the competent Ministry of Transport and the EU authorities.
The Approach
We worked first with OSE in order to develop such a strategic business plan addressing strategic, operational, organizational, and financial aspects of the required restructuring and documenting needed investments to upgrade the rail transport network in Greece.
In subsequent phases, PLANET acted as an advisor to the Ministry of Transport overseeing the implementation of the strategic business plan and its updates as well as expressing an opinion on the soundness of the proposed measures and the timely implementation of actions that would aim at the recovery of railway services in Greece.
Railway transport as a public service did not lift off, leading to the privatization of railway operations under Greece’s broader Privatization Programme of the 2010s.
Results and Impact
While ample time has been provided for the development and implementation of restructuring measures, railway transport as a public service did not lift off and following the EU mandated unbundling of railway infrastructure and railway commercial operation, the latter was privatized under the broad Privatization Programme that was implemented in Greece in the 2010’s decade.
