110% hike in postal charges at An Post Ireland
AN Post has demanded an urgent 110 per cent rise in some postal charges to cover its huge losses.
A recovery plan, including reconstructing costs of EUR50million, meant losses of EUR70million have already been predicted for 2002.
However, recent information shows the crisis is getting worse and losses for the year could be vast.
A letter in a leaked dossier, written by An Post chief executive John Hynes, warns of a “significant trading loss” of EUR9million in post services. An Post hopes to raise the cost of sending registered mail by 34 per cent and the cost of posting small packages by 110 per cent.
Last June, leaked documents revealed the group would file pre-tax losses of EUR6.7million for 2001 but hoped a recovery plan would get them back in the black by 2004.
An Post has now written to communications regulator Etain Doyle asking for price increases to be approved without delay.
