Sunday 22nd January 2017
Statement From Bus Eireann Facing Insolvency
***STATEMENT FROM BUS EIREANN***
Bus Éireann acting chief executive Ray Hernan said that the company is facing insolvency in the next 18 months, and that decisive actions need to be taken to reverse losses.
He told staff that forecasted losses for 2016 are now estimated at €8m, and that ‘collectively we cannot allow this trend to continue.’
Mr Hernan said that change is required across the entire company to ensure it can compete in an increasingly competitive marketplace, which is more customer focused.
Operational efficiencies and a sharp focus on cost drivers will form part of this, along with initiatives to deliver savings that will be announced shortly and activated without delay.
He stated that Expressway will continue to be a part of Bus Éireann, and that the challenges to make it more competitive will only be resolved within the overall company structure.
Mr Hernan told staff that while the change process will be challenging, he believed the company has a proud heritage and can have a secure future, if it adapts to customer needs and the competitive landscape.
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