São Paulo’s Metrô plans to reduce loss and state funding

São Paulo’s subway system, the Metrô, plans to reduce its dependence on the state government and start turning a profit from 2020, said CEO Silvani Alves Pereira, who took office in January. Last year, the company had a loss of R$519 million – and negative results in nine of the last ten years. The last time it recorded a profit was in 2014, of R$86.8 million. In addition, the state injects billions of reais every year to finance the subway’s expansion – in 2018, it pumped R$2.57 billion. The idea now is to make the subway contribute more financially to the works. The plan includes measures to reduce costs and expand so-called non-fare revenues.

Source: Valor Econômico