Financial and business news from Bulgaria

CGM with 12 million leva lost revenue in April, considering a loan

They extend the parking stickers for those living in the center for 2 months, since 18 May the controllers are still fine gratishers in public transport
About BGN 12 million are the missed revenues of the Center for Urban Mobility from the sale of cards and tickets for public transport in Sofia and the non-working blue and green parking area. From the blue and green zone alone, the losses are about BGN 400 000 for each week in which they did not work. BGN 1.8 million is CGM's liabilities to transport operators for March and the forecast for April is BGN 4.5 million. Therefore, we are considering a credit option to cover the amount that we have not secured from sales of cards and tickets and paid parking areas. This was announced by the head of the Centre for Urban Mobility Dimitar Dilchev at the meeting of the Committee on Transport at the SC.

About BGN 3 million are the losses of “Metropolitan Autottransport” - BGN 1 million from the stopped sale of vehicle documents by drivers and the rest - from the reduced transport task during the state of emergency. Also around BGN 3 million are the losses of “Metropolitan Electricity Transport” - BGN 800 000 from the suspended sale of tickets by the watmen and drivers. The biggest loss accounted for by the metro - about £8m.

"We will offer all living in the blue and green zone who have valid stickers for paid parking to receive a 2 month extension”, Dilchev said.

From 18 May the controllers will resume their normal work on the regularity of public transport passengers. This week they will continue to sell tickets instead of fining irregular passengers.

At least until the end of May, the ban on public transport drivers in Sofia will remain in force from selling tickets to passengers.” The optimistic scenario is in mid-September to reach an 80% recovery in revenue from the sale of vehicle documents, and in the summer - 35 -40%. We have another pessimistic scenario for the boom of those infected with coronavirus autumn for significant reduction of public transport in Sofia”, explained Dilchev.

By the end of June, the CGM will present a new economic framework. Work is under way to cut city transport timetables, increase line speed and more opportunities are being sought for places to sell vehicle documents. The CGM also hopes the ticketing system, which is currently being built, will start work early.

From 300 to 1000 BGN is the fine for passengers without a mask in public transport. Starting today, CGM and police teams are launching mass inspections into compliance with the health minister's provision.