MÁV, Volán to receive Ft 1.395 bln next year for urban transport scheme

Deals

The City Council of Budapest and the Ministry of Economy and Transport have budgeted Ft 1.395 billion in compensation next year for losses of railway company MÁV Zrt and long-distance bus company Volán resulting from the state-owned companies' inclusion in an urban transport scheme, Zsolt Denke, managing director of Budapest Transport Association (BKSz), the company that operates the scheme, said on Wednesday.

The city council will account one-third of the compensation in its 2007 budget, and the rest will come from next year's budget of the ministry. The BKSz distributes and accounts revenue from suburban transportation passes good for journeys within the boundaries of Budapest on vehicles operated by Budapest public transport company BKV Zrt, MÁV and Volán. It will operate with a budget of Ft 300 million in 2007, to be covered in equal part by the city council and the ministry. This year, compensation paid to MÁV and Volán will come to Ft 1.309 billion, well under the targeted Ft 2.245 billion.

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