Bus fares will be on their way up again, although not for all rates. The bus company Strætó points out that their fares account for a lower percentage of their operational costs than bus fares in other countries do, and that the number of passengers has increased sharply in the past year.
As reported, bus passengers have never been greater in number since the company was founded in 2001. Officials for the bus company believe this is due to a better availability of schedules and other information, both online and through the phone. In the past ten years, fares have increased by about 130%.
Fares are about to increase again, RÚV reports. This will only apply to the “red card” – the 3-month bus pass – which will go from 15,900 ISK to 17,500 ISK after the first of the month.
Officials for Strætó point out that in neighbouring countries, fares account for 40% to 60% of what covers operational costs. In Iceland, bus fares only account for 25%. The amount of money Strætó makes from bus fares has stayed relatively the same from 2001. At the same time, they say, passengers have increased by 20% between 2010 and 2011.