Rea Vaya to be four times profitable in months, says operator’s business rescuer
Rea Vaya operator PioTrans and the City of Joburg unveiled six buses and 41 others expected to be integrated into its fleet gradually.
Picture: X/ReaVayaBus
JOHANNESBURG - PioTrans’ business rescue practitioner, Mahier Tayob, says the embattled company operating Rea Vaya will be four times more profitable in the next few months.
On Thursday, Tayob and Johannesburg Transport MMC Kenny Kunene unveiled six buses and 41 others that are set to be gradually integrated into its fleet.
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In recent months, the company's bus drivers took to the streets on numerous occasions to protest delayed and missed salary payments.
The company was placed under business rescue in 2023 after its creditors cited monies due to them.
However, Tayob said the new buses would be the missing puzzle piece of his plan to increase profits.
“Creditors will start getting paid relatively quickly, our operational expenses will be maintained, there will be sufficient funds for [], and commuters will not be stranded any longer.”