KiwiRail steamrolls the naysayers again

Rail Minister Winston Peters welcomed State Owned Enterprise KiwiRail’s annual result today and issued congratulations to every rail worker, including Board Chair Suzanne Tindal, the newest apprentices, and everyone in between. “KiwiRail reported a $162 million operating surplus and an 11 percent growth in rail freight revenues in the financial year to 30 June 2026,” Mr Peters says. “Rail freight volumes increased by three percent and total freight added up to 3.5 billion net tonne kilometres – meaning we ‘got our country back on track’. “New Zealand was built by railways but it was left to rot on the roadside, and thankfully it is once again contributing to the economy as it should. “KiwiRail moves around a quarter of New Zealand’s exports, connects the North and South Islands, adds $3.3 billion of value to New Zealand annually, and supports more than 24 million passenger journeys each year. “The naysayers said results like we expected could not be achieved, but they should never have doubted Thomas the Tank Engine – they were wrong but at least they were consistent. “KiwiRail will shortly have one of the youngest fleets of any rail freight company in the world thanks to our inves