Jamaica Gleaner / The cash-strapped Jamaica Urban Transit Company (JUTC) is seeking to reduce its losses by hiking the rate of its premium service.
In an ad in today’s Sunday Gleaner, the JUTC says it will be increasing fares for its premium services starting January 1 next year.
The company, which indicated that rate of increase will vary, says if fares are not increased it will have to discontinue the service or reduce the service to the level of its economic transit service.
The state-owned bus company says its premium transit buses have not been covering their operational costs.
It’s not clear how much its premium service has been losing, but the JUTC has been facing severe revenue losses, some of which has been due to its fleet being vandalised.
The company has projected that it will spend about $2 billion this year on repairs of buses damaged by stone throwing vandals.