CIÉ Ireland - CIÉ Financial losses and the Future - B

CIÉ Ireland - B
CIÉ Financial losses and the Future
CIÉ was established to provide road and railway transport, and later took on some of the canals and ports. It was empowered as both a provider and a licensor of other providers.
For most of its existence CIÉ, in particular its railways division, made large losses and was subsidised by the taxpayer. This provoked demands from the public and politicians to "make CIÉ pay". In a similar pattern that seen in many other countries, Ireland's railways were accordingly rationalised, and suffered severe cutbacks while at the same time the road division was expanded.
The Baker Tilly report found an amount of corporate malpractice in 2004-08. CIÉ did not pass on the report to the Minister for Transport until it was mentioned in the media.
CIÉ Losses in 2009
  • Iarnród Éireann/Irish Rail - €4.0m
  • Bus Éireann - €54.1m
The biggest change to CIÉ's operational structure since 1987 came with the establishment of the National Transport Authority in December 2009, which has powers over CIÉ's operations in the Greater Dublin Area. The Dublin Transport Authority Act, 2008 also gives the Minister for Transport instead of the chairman of CIÉ the power to appoint the directors of the subsidiary companies. CIÉ receives public service obligation payments to support the provision of services on most of its routes.
In 2013, Dublin Bus and Bus Éireann made a profit of €500,000 and €400,000 respectively, for the first time in a number of years.
CIÉ Overview
CIÉ Type: Statutory Corporation
CIÉ Industry: Infrastructure & Public Transport State Administrator
CIÉ Predecessors:
Great Southern Railways
Dublin United Transport Company
Great Northern Railway (1958)
CIÉ Founded: 1 January 1945, 78 years ago
CIÉ Headquarters:
Dublin Heuston
Dublin 8
D08 E2CV
CIÉ Area Served: Ireland
CIÉ Key People: Fiona Ross (Non-Executive Chairman)
CIÉ Revenue Increase: €1.315 billion (2018)
CIÉ Operating Income: Increase €72.1 million (2018)
CIÉ Net Income: Increase -€35 million (2018)
CIÉ Owner: Government of Ireland (100%)
CIÉ Parent: Department of Transport
CIÉ Divisions: CIÉ Tours International
CIÉ Subsidiaries: Iarnród Éireann
Dublin Bus
Bus Éireann
Rail Holidays
Rail Vacations
Luxury Trains
Luxury Tours
International Trains
International Tours
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