July 28, 2020 / 11:00 AM / 12 days ago

Deutsche Bahn faces $1.6 bln writedown at Arriva unit - sources

BERLIN, July 28 (Reuters) - Deutsche Bahn is facing a 1.4 billion euro ($1.6 billion) writedown at its international passenger transport business Arriva, two people familiar with the matter told Reuters.

The writedown is the result a special review triggered by the coronavirus pandemic, the people said, adding Deutsche Bahn is expected to post a first-half loss before interest and tax of 1.8 billion euros.

A spokesman for Deutsche Bahn, which is scheduled to present its half-year results on July 30, declined to comment.

$1 = 0.8521 euros Reporting by Markus Wacket; writing by Christoph Steitz; editing by Thomas Seythal

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