Massive losses for CIE in 2008

The Minister for Transport, Noel Dempsey, has told the Dáil that CIE will make a loss of €39.5m this year, compared with a €1.47m loss last year! He said the loss was a 'significant deterioration' and was due to a drop in revenue, increased costs and higher fuel costs in the early part of the year. Mr Dempsey said CIE would have to reduce its frequency of service and withdraw some routes altogether.

A CIE statement said the group - Iarnrod Eireann, Dublin Bus and Bus Eireann - was facing a more difficult financial situation in 2009. It said the three companies were looking at 'a wide range of options' to address the deteriorating financial situation. 'All aspects of the cost base are being examined for potential cost savings,' CIE said. But it added that no decision had yet been made on the final measures to be taken.