Strætó success
Photo: Þórður Arnar Þórðarson
Strætó, the Icelandic bus company serving the Greater Reykjavik area, has posted a profit for the sixth year in a row. The recently announced figure for 2014 is ISK 370 million (approx. €2.5 million).
Profits for 2014 are, however, 25% down on 2013. According to Strætó, this is due to the ISK 80 million (approx. €537,000) cut in State subsidies. Passenger numbers are up by 4.4%, yielding a 3.9% increase in fare revenue.
Expansion and better service
This straight run of success has enabled Strætó to invest heavily in new vehicles. In the two-year period 2013-14, 32 vehicles have been added to the fleet at a total cost of ISK 991 million (approx. €6.6 million).
The CEO of Strætó, Jóhannes Rúnarsson, welcomes the opportunities afforded by six consecutive years of profitable operations to expand the network, build up the fleet and improve service. “It is a pleasure to see passenger numbers rise for yet another year,” he added.
