Public transit card company cashed in €55 million in profits these past 5 years: report
Translink, the company behind the Netherlands' public transit card, made a massive 55 million euros in profits over the past five years, newspaper AD reports. According to the newspaper, consumer organizations are absolutely shocked by this revelation as it was always said that the card only covers costs.
According to AD, the profits come from selling public transit cards for 7.50 euros while producing them only costs 0.88 euros. Most of the money goes to NS. Another profitable part of the business is the fact that the public transit card expires every five years, which means that Translink can sell another 3 million cards every year, the newspaper writes.
Arien Kruyt, president of traveler's organization Rover, is shocked, he said to AD. "That much profit? I had no idea!" According to him, 7.50 euros per card is way to much. He wants public transit cards to be cheaper and renewal to be free.