Toll operator TransJamaican makes US$1.8m loss
TransJamaican Highway Limited spun to a loss after a near 15 per cent plunge in both revenue and traffic volumes at year ending December 2020, as the pandemic and the lockdowns in response to it took a toll on commute.
Vehicular traffic on the East-West corridor of Highway 2000 operated by the toll concessionaire fell to 20.6 million from 24.2 million. The company racked up losses of US$1.87 million as a result, reversing the US$8.3 million of profit from 2019.
The annual tariff increases that TransJamaican had anticipated last July were postponed to September. That, plus the reduced number of toll collections, resulted in a near US$8 million decline in revenue, from US$53 million to US$45 million.
Amid adjustments to costs and operations, the toll company spent US$32 million to keep itself and the highway functional, down from US$37 million in 2019, and executed just three-quarters of its planned heavy maintenance schedule.