Málaga Bus Company Posts A €10.6m Loss In 2020 Due To Covid

By Chris King • 23 March 2021 • 21:14

Coronavirus Pandemic Sees Málaga Bus Company Post A €10.6m Loss In 2020 . image: wikimedia

Málaga Bus Company Posts A €10.6m Loss In 2020 Due To the drop in passenger numbers during the Covid pandemic

Málaga Transport Company (EMT) has show losses that slightly exceed €10.6m in their public company accounts for the year up to 2020, accumulated obviously as a direct result of the coronavirus pandemic

The figure did not come as a surprise, given the fact that the demand for public transport almost disappeared during the pandemic from March 2020 onwards, with the company showing a drop in passengers to 25.8m, which is a 45 per cent decrease compared to 2019.

The transport company’s turnover was affected grossly, dropping from €34.8m in 2019 to just over €28.4m in 2020, with Málaga town hall having to subsidise them with a €29.62m injection of funds, out of which total, €10.9 relates to programs aimed at reducing the cost of the service for groups such as retirees or the unemployed, and the other €18.7m being the contribution to cover the company’s losses.

However, the company’s loss of revenue is cushioned by an important cost containment policy, with the accounts showing that the application of ERTE to about 200 workers allowed savings in personnel expenses of about €4m, and also shows that the application of anti-Covid measures in this period forced extraordinary expenses valued at about €234,000, as reported by malagahoy.es.

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