ECONOMY

ISAP fares worst among public transport firms

Electric railway ISAP had the highest deficit in 2009 among Athens public transport companies, according to data released by the Organization of Athens Public Transport (OASA). ISAP, which operates Line 1 of the Athens metro system, showed an operating deficit of 44.8 million euros last year, up from 40.4 million in the year before and 31.29 percent higher than the original target. In total, all companies supervised by OASA showed a deficit of 311.7 million euros last year, posting an 8 percent annual rise. The burgeoning ISAP deficit is not attributed to the construction and refurbishment works under way, but rather to a 6.84 percent rise in salaries and other remuneration for employees. Overtime pay accounts for 12 percent of ISAP’s total salary expenditure.