Turmoil over jobs

Orbán’s son-in-law gets involved in Raaberbahn

The Raaberbahn, which - in the truest sense of the word - crosses borders, can look back on more than 140 years of history.

(Bild: Patrick Huber)

Istvan Tiborcz's transport company takes over the former Strabag shares in the cargo business. The workforce begins to worry about the future.

Uncertainty is spreading within Raaberbahn. Hard times are apparently ahead. The worries began with the sale of the shares in the construction company Strabag, which were purchased by the Republic of Hungary - approved by the Federal Competition Authority in September 2024. The next step is now to transfer the stake in the cargo business to the Hungarian logistics group Waberer's International, where István Tiborcz, the son-in-law of Prime Minister Viktor Orbán, is pulling the strings.

Takeover by June
"Officially, the deal is not yet done, the papers for the purchase are in Brussels and have yet to be signed," an industry insider told Krone in confidence. The strategic takeover should be completed by June at the latest.

Business tactics aim for majority takeover
If everything goes according to plan, the Hungarian logistics group will ultimately acquire 70 percent of the shares in Gysev Cargo, with the previous sole owner Gysev Zrt. retaining 30 percent. "The forthcoming majority takeover of Gysev Cargo by Waberer's International can strengthen rail freight transport in Hungary and Austria," according to the announcement in the trade magazine.

Major customers could turn away
Behind the scenes, however, a different opinion prevails. The impending deal is casting its shadow and the mood is gloomy. Although Gysev Cargo, Hungary's second-largest rail transport service provider, can also offer services in Austria via its subsidiary Raaberbahn Cargo, there are fears that previous major customers could react with dismay to the transfer of competencies and turn away from their usual profitable trade.

"The company does not yet have a strategy as to how business should be handled in the future. The logistics group Waberer's International has no concrete plans. Furthermore, this uncertainty does not allow any conclusions to be drawn as to how the market will react," says an expert on the company's internal structures.

The central hub is the train station in Wulkaprodersdorf.

(Bild: Patrick Huber)

Employees must fear for their jobs
Raaberbahn AG, based in Wulkaprodersdorf, is not directly affected. Cargo operations are running independently. However, since the controversial dismissal of the deputy managing director of Gysev Austria (Raaberbahn), whom the Hungarian Minister of Construction and Investment, János Lázár, dismissed "wrongly and illegally" in November 2023, there has been no successor. It is assumed that the company's budget is shrinking. "Layoffs are possible. Employees are fearing for their jobs," reports a company insider.