Free transport measure costs network 10 mln euros

A measure introduced to help cash-strapped commuters after the imposition of capital controls more than two weeks ago has cost the Athens transit system more than 10 million euros and may lead to future fare hikes.

While free transport was introduced on June 29 to help ease the pressure on city residents and visitors who found themselves with limited access to cash, it has dealt a blow to the transit network’s already poor finances, sources at operator OASA have said.

In July 2014, OASA recorded revenues of 20 million euros, while it is estimated that this month’s earnings will not be above 6 million euros, mainly due to losses from the sale of monthly transit cards, which last July accounted for half of revenues.

Sources told Kathimerini that after the losses incurred by two-and-a-half weeks of free transport, commuters should expect a hike in ticket prices.