Istanbul ferries’ budget hit by mismanagement, Marmaray

Istanbul ferries’ budget hit by mismanagement, Marmaray

Istanbul ferries’ budget hit by mismanagement, Marmaray The City Lines Ferries, the public sea transportation subsidy of Istanbul Metropolitan Municipality, posted a 28 million-Turkish Lira ($11.4 million) loss in 2014 mainly due to an inability to make savings, as well as due to a decrease in passenger numbers after the launch of the Marmaray train line.

The City Lines Ferries, 90 percent of whose stakes are owned by the municipality, raised its capital by 30 million liras for this year after posting a loss in 2014.

According to the company’s financial report, which was brought to the agenda of the municipality’s Planning and Budget Commission, the company suffered 28 million liras in losses in 2014 after failing to make savings on staff, fuel, maintenance and other costs. Its loss almost doubled from the 2013 figures, especially due to the decrease in the number of passengers who have started to use the Marmaray line, said the report.

The need for more economical, comfortable and modern vessels was underlined in the report.

Hakkı Sağlam from the Republican People’s Party (CHP) accused the municipality of mismanagement, noting that despite the sinking of the Karaköy Pier due to a lack of maintenance, no probe has been launched.

Sağlam added that the Beşiktaş Pier has also burned down amid the discontinuation of a number of lines.

The company now aims to buy 10 smaller ships for lines that are subject to less demand.