COVID-19: The economic and financial impact to the public transport sector
The scope of this paper aims to illustrate the economic and financial implications brought by losses between 70-90% of fare revenue. We first address the implication of this revenue crisis and its consequences for companies’ cost structures. Simultaneously, operators, competent authorities and industries worked tirelessly throughout the confinement, while ensuring adequate deployment of safety protocols for the new normal. This new situation, additionally, has caused higher costs, e.g. for hygiene measurements and cleaning. Later, we aim to look at the various approaches undertaken to ensure the financial support of the sector, and the impact that governance structures have had, at a time when timing and urgency were of the essence.
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