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BKK reports HUF 4.7 bln loss in 2019

BKK, the organizer and central company of public transport in Budapest, closed 2019 with a loss of HUF 4.7 billion, according to the companyʼs report, writes hvg.hu.

Photo by nogreenabovetwothousand/Shutterstock.com

According to the report, the loss essentially resulted from two factors.

The first is the HUF 6.1 billion spent on the failed e-ticket system finally accounted for last year, the other being that the Budapest General Assembly only approved HUF 10.4 bln in compensation for the BKK.

The "failed" e-ticket system refers to the system developed by Scheidt & Bachmann which could not be put into operation for many years, the contract for which BKK finally terminated in November 2018, hvg.hu adds.