JSC Ukrzaliznytsia has virtually completed its internal restructuring and the division of its core business areas into separate verticals to ensure more transparent accounting of revenues and expenses. The creation of a unified railway infrastructure operator, “UZ Infra,” is currently in its final stages, according to Oleksandr Pertsovskyi, Chairman of the Board.
He stated that the Supervisory Board has already decided to merge Ukraine’s six regional railway divisions into a single infrastructure entity. Meanwhile, other business lines – passenger transport, suburban services, and locomotive operations – have already been established as separate verticals with their own internal balance sheets. Passenger transport is managed by the “Passenger Company,” which holds all passenger rolling stock on its balance sheet. Separating the accounting for these activities became particularly important after the government introduced an experimental model for compensating socially significant passenger transport services (PSO).
Pertsovskyi noted that this restructuring aligns with European principles regarding the separation of railway company activities and is part of Ukraine’s drive toward European Union integration. However, he emphasized that separating the infrastructure operator from the carriers does not mean a complete corporate split; a similar model operates at Deutsche Bahn, for instance, where different business units function within a single holding company. The head of Ukrzaliznytsia stressed that, given the ongoing war, the country must maintain a high level of operational coordination; therefore, the further opening of the railway market will proceed gradually, taking into account European requirements and current security conditions.