Audit: Operator Of MBTA Commuter Rail Lost $10M Last Year
An independent audit shows that the company contracted to run the MBTA's commuter rail service ended last year with a net loss of almost $10 million and expects to lose even more in 2015.
The Boston Globe reports that the audit shows that Keolis Commuter Services has been borrowing from its parent company to make ends meet.
Keolis took over the T's commuter rail service in July on a $2.68 billion, eight-year contract. It has been criticized for its performance.
A company spokeswoman says such losses are typical in the first few years of a large contract and Keolis is looking at ways to save, although she did not offer specifics.
She says the company has been challenged by many ``unpleasant surprises'' including ``poor maintenance of the locomotive fleet'' by Keolis' predecessor.