JUTC losses balloon

The financial haemorrhaging at the Jamaica Urban Transit Company Limited (JUTC) is expected to continue in the new fiscal year with the beleaguered state body projected to rack up a hefty $18 billion loss before a government grant is taken into account.

The Jamaica Public Bodies estimates of revenue and expenditure for the year ending March 2027, which was tabled in Parliament on Thursday, highlighted that the state-owned bus company will suffer a $14-billion operating loss for the 2026-2027 financial year.

To shore up the cash-strapped entity, the Government will provide a grant in the sum of a little more than $11.1 billion for the fiscal year. When the grant is taken into account, the JUTC is projecting a loss of $7.7 billion.

A review of the company’s income statement shows that its operating expenses are projected to surge from $10.7 billion in financial year 2025-2026 to $17 billion for the new fiscal period.

In delivering the Throne Speech in Gordon House Thursday morning, Governor General Sir Patrick Allen announced that the Government would be procuring 150 additional school buses this year.