Rigas Satiksme to invest last year's profit in trolleybus and tram infrastructure

RIGA - Rigas Satiksme municipal public transport company invested last year's profit - more than EUR 3 million - in trolleybus and tram infrastructure, the company's board chairwoman Dzineta Innusa said in an interview with the Latvian public radio today.

She said that the contact networks of Riga trams and trolleybuses is a problem. The network stretches to around 500 kilometers, last year 43 kilometers were renovated, but many years are necessary to replace the old trolleybus and tram wires.

Different costs have increased recently, including fuel, but an agreement has been reached with the local government that the current fuel hike could be compensated with EUR 3-5 million.

Asked about possible increase of ticket prices, Innusa said that she does not exclude that, but it is not easy - usually when prices are increase, the number of fare dodgers also increases.

Rigas Satiksme closed 2021 with EUR 161.117 million in audited turnover, down 7.1 percent from a year before, while the company's profit grew 3.1 times to EUR 3.049 million.

Fully owned by Riga City Council, Rigas Satiksme provides bus, tram and trolleybus services to passengers in Riga.