company trading norwegian passenger freight railway company company operated fleet locomotives multiple units passenger freight cars sole service passenger train oslo stockholm previously offered freight contract company founded took passenger operation following year entered freight market particular timber trains expanded services charter trips company went bankrupt taken automotive distributor started purchasing operations time bought company saw dramatic decline operations passenger train services terminated april company started service oslo stockholm company went bankrupt october immediately established new company filed bankruptcy operation company based city connected rest norwegian railway network sweden company led ceo chairman passenger train service norwegian swedish capitals oslo stockholm service cooperation swedish company competition operates daily round trip hours minutes oslo stockholm renovated stock 1960s expensive service aims luxurious cars traditional dining car company markets product class service train capacity riders provides seating service operated october bankruptcy longer willing rent locomotives company rolling stock company diesel locomotives single electric locomotive passenger carriages charter trains supplemented car class electric multiple units freight cars company owned timber cars stock painted dark green stock stock chosen service history establishment founded march november bought nok market price purchase raised controversy potential operator offered market price trains rent locomotives months brand new class trains service paid purchase price month rental announced wanted operations hoping leave operation passenger trains signed agreement responsibilities operate trains initial contract paid nok million service june took passenger transport line including employing employees day took operations swedish border winning public service obligation contract swedish government dismissing right offer service operating security license granted june expansion company managed cover costs company stated hoped revenue nok million following year ambitious expansion plan private offering nok million issued allow expansion municipality march forced withdraw accusations conflict interest chair port freight competitor felt treated port municipality bought shares appointed chair legality port purchase shares considered deemed legal port authority required sell shares years april received permit operate sweden started offering charter trains sweden primarily cruise ship passengers announced going bid public service obligations passenger railway transport government planning conduct june received permission operate freight trains entire railway network norway time permission granted different company september companies bid public service obligation tender company chose submit bid contract won subsidiary september mechanical company provided maintenance accused municipality illegally providing company rent workshops won public tender contract company threatened municipality court violation competition laws matter soon resolved courts involved december government granted permission operate charter trains entire railway network november largest owners cargo municipality port addition employees bought shares nok million general meeting december capital placement initiated nok million anonymous british consortium named bought stake nok million company revenue nok million following general assembly december private placement nok million increasing consortium ownership freight transport started agreement transport timber lines paper mill activity increased contract worth nok million signed transport long tons short tons timber including paper mill following year entered container freight market train running sweden oslo trains continue necessary negotiations transporting annual trains ore contract instead awarded stock march contract rest year signed securing use equipment transport timber trains continual traffic extraordinary traffic needed clean storm contract gave revenue nok million troubles april declared severe financial difficulties accounts giving problems announced needed capital estimated nok million said willing invest money railway company losing money continually start deficit nok million nok million revenue extraordinary general meeting september company sold nok million holding company london based shipping owner november threatened withdraw company safety license failed proper maintenance rolling stock january largest distributor automobiles bought transferred train contract largest customer march ordered additional new nok million june new report showed severe safety problems company engineers necessary licenses performing safety analysis director stated believe taking safety seriously ceo felt issues taken mere difficult necessary documentation stating opinion procedures criticized actually influenced safety beginning lost important contracts timber contracts transferred rail time public service obligation contract won included nok million section norwegian border started operating trains way lost contract operating trains norwegian border receiving nok million subsidies operation june termination cooperation oslo stockholm route january announced willing operation route summer held non passenger trains services respective countries possible private company operate route company announced plans oslo stockholm train necessary granted norwegian swedish authorities reopened route line march plans launched start operations april met requirements safety licence company rented rolling stock including locomotives newly renovated cars 1960s service cooperation swedish company necessary certificates granted april trial run following day ordinary service started april dining car initial price nok travel time hours minutes trains cars regular open seating dining car june service introduced company stated service meant luxurious including wider seating instead abreast wooden interior company markets service class seating trains service introduced price increased nok july found locomotive second train operating single round service passenger numbers departure close capacity necessary annual needed profit bankruptcy july canceled contract weeks later announced establish railway company working march stated deal discontinued allow additional private capital sell shares july automotive trains stopped running cars transported days day board members representing withdrew positions matter ended court concerning allowed control train radios located locomotives owned operated agreement ownership train radios transferred agreement clauses specified start competing railway company stating regard contract ruled july demand interim order transfer possession radios court ruled interim decision complexity contracts normal lawsuit carried determine matter parties agreed february bought nok million nok million paid debt september won appeal appeal convicted stealing radios lost license october documented necessary accounting provided evidence necessary october company filed bankruptcy founded company march received operating safety licence september took control owned addition diesel locomotives operations started november trains taken new company rebirth immediately bankruptcy established new company estate bankruptcy stated cause bankruptcy let private placement nok million new company received operation safety licence january plans start operation february april withdrew operating certificate economically sound operate company filed bankruptcy claim nok taxes
Ofotbanen (company)