Government is giving An Post a €30m loan to save rural post offices

It will be repaid over five years with €15m being put directly into the post office network.

Update: An Post has welcomed a €30m government loan, saying it will “allow (An Post) to continue the successful transition begun in 2017”.

An Post had a loss of €15.6m in 2016 and this time last year, PWC forecast a loss of €61m in 2017 if no action were taken. The company said it is on course to break even this year after the introduction of new pricing, the relaunch of its parcel business to include evening and Saturday deliveries a reduction in headcount of 316 by the end of this year.