Irish Rail's latest annual report has revealed that the company recorded a €1.1 million deficit in 2018 after budgeting for a €6.5 million surplus.
However, the number of passengers that used Irish Rail services last year rose 5.3% to a record 47.9 million and fare revenue rose 7.8% to €220.9 million.
Meanwhile, government funding under Public Service Obligation subvention decreased 22.3% to €89.3 million and the company also incurred a €6.8 million deficit on its rail infrastructure division.
Vital Role
According to The Irish Times, Irish Rail chairman Frank Allen said that the company's record passenger numbers last year demonstrate the vital role trains play in moving around and between cities.
The paper quotes Allen as saying, "We are committed to building on this success to ensure that rail will continue to provide a credible alternative to private cars for more people."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.
