Group’s chief executive Stephen Kent admitted the group’s bottom line ‘fell short’ of ambition, but pointed to rising costs
Bus Éireann halved it losses last year as its passenger numbers topped 100 million for the first time, its annual report shows. The company carried out 107 million so-called passenger journeys in 2023. That was up 19.5 per cent over the previous year.
Bus Éireann chairwoman Miriam Hughes cited the “exceptional inflationary” conditions and a “challenging operating environment” for service delivery to explain the company’s failure to turn a profit, but insisted it “managed to stabilise” its finances in the year. Bus Éireann chief executive Stephen Kent admitted the group’s bottom line “fell short” of its ambition, but said costs – including pay, spare parts, insurance, energy – were all increasing in the context of the macroeconomic backdrop. “Without subvention these costs impact our commercial business,” he said, adding that some of the headwinds experienced in 2023 “will continue into 2024, but hopefully with diminishing emphasis”.
Mr Kent said the availability of drivers and mechanics restricted the group’s full growth potential, which he said was an industry-wide issue. The annual report shows the company hired 338 new drivers over the year. Payroll costs increased to €167.3 million with an average headcount of 2,932, compared to €154.3 million in 2022 with an average headcount of 2,827.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Female Bus Eireann driver shot in the face with air gun in horrifying attackOne member of a gang of youths shot the bus driver, hitting her just below the eye, before disembarking the bus in Limerick
Read more »
Bus Eireann announces increase in Expressway fares to offset rising costsThe changes will come into effect for Expressway services starting at the end of July
Read more »
Companies around the world hit by major IT outageFinancial services groups, airlines and media groups have been affected
Read more »
Bus driver shot with air gun in Limerick cityThe National Bus and Rail Union has condemned an incident during which a bus driver was shot with an air gun on the 303 bus in Limerick city shortly after midday.
Read more »
Met Eireann forecast end to the heatwave with brutal week of wind and rain aheadBig changes are afoot on the weather front, as the easy breezes and mild temperatures of the weekend make way for cooler, windier and wetter weather - so long, heatwave
Read more »
Met Eireann's weather verdict on week ahead as temperatures to reach 22 degreesAfter a glimpse into the summer over the course of the weekend, we were hoping the good weather would continue into this week - it's not looking very likely at the moment
Read more »