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Bus and train operator Translink sees losses grow to more than £10m

By John Mulgrew

Published 29/06/2016

Railway works have benefited from EU funding
Railway works have benefited from EU funding

Translink has seen its losses plunge in its latest set of accounts, as its chief called on the Executive to push to bring in a fuel rebate in order to turn the numbers around.

Translink saw losses grow to £10.5m for 2015. That was down more than £2m on a year earlier.

It says the “planned loss” was funded from the group's cash reserves, which now sit at just under £40m.

It say it can “only return to break even with a restoration of fuel duty rebate”, which amounts to around £10m each year.

Meanwhile, passenger numbers fell from 80 million to 78.7 million.

It said the losses are set in the “context” of a reduction of around £16m from the Department for Infrastructure since 2013.

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