Macao’s two bus companies jointly posted losses of more than 50 million patacas last year, TDM reports.
According to the public broadcaster, Transportes Urbanos de Macau (Transmac) registered a loss of 27.37 million patacas. The sum is a sharp increase from the loss of 8.32 million patacas recorded in 2021, but it is partially offset by the 33.95 million profit made in 2020
The company drew attention to increased fuel costs and the cost of sanitising vehicles nightly during the pandemic, as well as the economic slowdown, as explanations for its financial performance last year.
According to Jornal Tribuna de Macau, the total number of passengers Transmac carried in 2022 decreased by 13.6 percent compared to 2021.
Meanwhile, the Sociedade de Transportes Colectivos de Macau (TCM) was 23.6 million patacas in the red in 2022, compared to a loss of 1.93 million patacas in 2021 and a profit of 52.85 million in 2020.
TCM told media that the number of passengers on buses had decreased by around 27 percent compared to the pre-pandemic period.
The losses come as both operators invest heavily in electric buses, with Transmac purchasing 160 of the vehicles in the past year and TCM acquiring 200 electric buses.
At last count, Macao had nearly 960 buses serving more than 85 bus routes with gas or electric-powered buses making up almost a third of the total fleet.
According to a survey conducted last year by the Transport Bureau, passengers are somewhat satisfied with local bus services, giving Transmac and TCM scores of 27.1 and 30.1 respectively, out of a maximum of 40.