Acting chief executive of Bus Éireann Ray Hernan has told the Oireachtas transport committee that drastic and decisive action is needed to resolve the financial crisis at the company.
Mr Hernan said that to do nothing would result in the company, not just Expressway, going out of business.
He said there was an “immediate risk of insolvency”.
He said the company losses in the order of 8 to 9 million last year meant that the company had less than one year of cash reserves remaining.
His appearance before the committee follows yesterday’s statement by the Labour Court that it will not be intervening in the current dispute over pay and cost cuts at Bus Éireann.
Unions at the company are to meet tomorrow to decide their next…
Read the full article at: https://www.rte.ie/news/2017/0125/847492-bus-eireann/