In a report issued on Friday, the company said that they had stopped labour contracts ahead of schedule with all staff that serve the routes from August 15.
A bus route of Bac Ha Ltd. Co.
According to the company, they suffered great losses due to the prolonged Covid-19 pandemic and the petroleum price hike has also worsened the situation. In response, the firm has decided to scale down operations.
Within 14 days since the contract suspension, the company will fully complete payments as well as insurance procedures.
A representative from the Hanoi Department of Transport said that the agency had not yet received any report from Bac Ha Ltd. Co. However, he noted that they are subsidised city bus routes, so they can not be suspended due to any reason.
Hanoi’s public transportation, including buses, has suffered a 30-50 percent fall in revenues over the past two years due to Covid-19 and the petroleum price rise.
