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Ulsterbus success story
Page 41
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• Mr. Brian Faulkner, Northern Ireland Minister of Development, has revealed that the total bill for compensation paid to 6,000 employees after the Ulster Transport Authority was split up in 1967, will be about £7m.
The Minister was speaking in a debate in the Ulster Commons on the final report and .accounts of the UTA and the first report of the Northern Ireland Transport Holding Company, which took over from it.
Mr. Faulkner said the accounts of the Holding Company, which embraces Ulsterbus, Northern Ireland Carriers, and Northern Ireland Railways, revealed a financial success storY. Profits from the Carriers were being used to re-equip their fleet of vehicles and to modernize premises.
The new company had made an operating profit of £50,000 in its first year and Ulsterbus was ploughing back thousands of pounds into a large number of new buses, which would soon be appearing on the roads, and better amenities for passengers.