The head of Germany's Deutsche Bahn train operator on Friday said the company needs €150 billion ($170.5 billion) to modernize its rail network. The company had a net financial debt of about €32.6 billion in 2024.    

Deutsche Bahn CEO Richard Lutz told German news outlet T-online that this €150 billion would be in additional financing. He said €80 billion would be needed for the "existing" rail network for repairs and refurbishments. 

Lutz said the rest of the financing would be used for "expansion measures" such as building new train routes or for the expansion of train stations.

Lutz praises next German coalition's infrastructure spending plans     

The next German governing coalition, consisting of the conservative Christian Democratic Union (CDU), its Bavarian sister party the Christian Social Union (CSU) and the center-left Social Democratic Party (SPD), intends to spend massively to improve Germany's aging infrastructure.

CDU's Friedrich Merz is expected to be sworn in as chancellor on May 6. His cabinet is also likely to take office on the same day.

The coalition parties have already agreed to set up a fund of €500 billion for infrastructure, and managed to convince the German Bundestag, or parliament, to reform borrowing limits to enable this financing.  

Deutsche Bahn's Lutz praised the special fund for infrastructure during the T-online interview, saying it "will help us and the entire rail and construction industry."

Deutsche Bahn faces frustrating punctuality problem

In decades past, Deutsche Bahn trains were seen as the symbol of reliability and comfort. In more recent times, however, they have become notorious for punctuality issues and frequent cancellations. 

In January, Deutsche Bahn released data that only 62.5% of its ICE and IC long-distance trains came to the station within 6 minutes of their scheduled arrival time last year. The company also paid €197 million in compensation last year to customers due to delays and cancellations. 

Germany hosted the UEFA Euro 2024 tournament in June and July last year, with soccer games taking place across the country. Deutsche Bahn's frequent delays caused massive frustration among fans, many of whom came from abroad to attend the matches.