Transport co asks for higher bus fares

The company's managing director Wuttichat Kanlayanamit said yesterday that the company's fuel costs had risen from 40 per cent to between 70 per cent and 75 per cent of total costs, urging the company to consult with the Land Transport Department to seek ways to adjust fares in line with rising fuel prices.

"Though we're turning to NGV buses, there is insufficient NGV supply and a small number of NGV stations. Therefore we have to increase the fares, otherwise we will not survive," he added.

The company posted revenue of Bt2.984 billion last year with Bt225.38 million net profit, while its operating costs rose to Bt35.5 million, due to oil-price increases. This year it expected to report a declining profit in line with the soaring fuel price.

The company is in the process of converting its existing 800 buses to NGV while procuring an additional 163 NGV buses. In addition, it will introduce an online ticketing system.