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BKV Will Need 10 Billion Ft Loan to Avoid Bankruptcy

picture of Budapest bus

Népszava writes that the supervisory board of Budapest Transit Company (BKV), which runs the capital’s public transportation network, has rejected the company’s business plan for next year.

According to several board members, the proposal contains risk elements that could push BKV into bankruptcy by the end of next year, and there is no guarantee that this can be safely prevented. The budget does not even cover a wage increase for next year, even though a four-year agreement was reached with unions last year.

The board calculates that a 10 billion Ft. (US $32.2 million) loan would be needed to maintain the functionality of buses, trams, and subways in the capital.

[Népszava]

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Posted in Domestic

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