Carris : reduced financial losses and transfer to the cityof Lisbon in the pipe
Updated: March 2004
Carris, the state-owned company operating the bus, tramways and funiculars of the Portuguese capital city expects losses of €6 million in 2003, after a record deficit of €90 million in 2002.
The company plans to cut 1,200 jobs, out of a total of 4,000, by 2005, so as to curb its deficits, and thus its debt, which amounts to €280 million.
In this context, the Portuguese government plans to transfer the ownership of the company to the Municipality of Lisbon before the end of the year.