The Tbilisi minibus holding company, which includes four private operators, earned 122.7 million GEL in revenue in 2023, 8.5 million GEL less than in 2022. Profit also dropped significantly to 17.9 million GEL, compared to 29.3 million GEL the previous year.
The group operates nearly 1,000 blue minibuses in Tbilisi, all using a cashless payment system integrated with the Tbilisi Transport Company. The companies under the holding are Tbil Line, Capital Group, Tbil Car, and Public Car, all part of CBS Holding, owned by businessman Khvicha Makatsaria.
The main expense in 2023 was driver salaries, totaling 48.9 million GEL. The financial report attributes the profit decline primarily to increased wage costs.
All fare revenues go to the Tbilisi Municipality Transport and Urban Development Agency, according to the company’s official report.
