STIB's revenues from ticket sales are only sufficient to cover one quarter of its expenses, L'Écho reports on Wednesday, citing an audit report from global consultancy company PwC.
This statistic represents a clear decline in revenues for the Brussels regional public transport company. In 2019, STIB's revenues covered 45% of its expenses. Since then, the cost of energy and the economic shocks from the Covid-19 pandemic and the war in Ukraine have had a downward effect on revenue.
This decrease can also be explained by the company's commitment to not index prices for nine years, as well as its preferential rates offered to young and older people. Currently, 18 to 24-year-olds are able to buy a 12 month travel card for just €12. A normal one year subscription costs as much as €499.
While revenues for the Brussels transport company have decreased, allowances from the Brussels-Capital Region have increased significantly. From 2019 to 2022, these subsidies increased from €60 to €74 million.
In 2022, 333.7 million passengers used the STIB network, up 23% from the previous year, but still 79% of the figure recorded in 2019, before the start of the pandemic.
