CIÉ ‘must make savings’ to get €36m bailout

A €36m bailout fund promised to CIÉ in the summer is conditional on the State transport group making greater efforts to achieve savings within the bus and rail companies, Transport Minister Leo Varadkar has confirmed.

Mr Varadkar yesterday criticised the lack of progress by CIÉ on the sale of some of its assets as well as securing new lines of credit and reaching agreement with trade unions about changes to terms and conditions of existing staff.