"Tbilisi Transport Company", which is responsible for the operation of municipal transport in the capital city, submitted the 2022 financial report to the Ministry of Finance.
According to the document, last year the total income of the company increased by GEL 148 million to GEL 260 million, which was 132% more than in 2021. However, along with the revenues, the company's expenses also increased, so "Tbilisi Transport Company" ended the last year with a loss of GEL 94 million. 2021 was also unprofitable, when the loss amounted to GEL 172.8 million.
The fact is that "Tbilisi Transport Company" is a subsidized enterprise and its passenger fare does not reflect the real costs of the company. In addition, the company is on a permanent subsidy from the Tbilisi City Hall, therefore, it does not have urgent needs to increase efficiency.
According to the report published by the Ministry of Finance, Tbilisi Transport Company spent GEL 354 million in 2022, which was GEL 69 million more than in 2021.
According to the fiscal risk analysis document of the Ministry of Finance, in 2022, "Tbilisi Transport Company" received transfers of GEL 231 million from the City Hall, which were directed to the modernization of the infrastructure and the purchase of buses. In 2021, the subsidy given to the company by the Tbilisi Municipality amounted to GEL 119 million.
From 2024, 18-meter MAN buses were gradually added to the fleet of Tbilisi Transport Company. The capital will purchase 160 new buses from Tegeta Motors, and the total cost of the purchase amounted to EUR 89 million.
