Dublin Bus has implemented costs savings totalling more than €60m a year, but significant challenges still remain for the company, according to Chairman-Designate Ultan Courtney.
Mr Courtney made the comments as he addressed the Joint Oireachtas Committee on Transport and Communications.
He said while the company was now heading for a more stable financial position, the careful and prudent management of the limited financial resources available remain a top priority for management.
Mr Courtney said the company will be focusing on the ageing of the bus fleet, the nature and size of the Government subvention, giving customers value for money, and securing value for money from suppliers.
He also warned that capital investment was a priority.
Mr Courtney said Dublin Bus had had a very difficult few years, and that management had worked hard to make the most of the revenues available to it.
He said this had involved some very tough choices about reducing costs, fleet size and changes to routes and schedules.
Drivers belonging to SIPTU and the National Bus and Rail Union staged a three-day strike last year over the company's cost-cutting plans.
Mr Courtney told the committee that last year, the Dublin Bus workforce of 3,200 staff and its fleet of 932 buses were responsible for transporting 114 million passenger journeys over 56 million kilometres.
He also said that at present, 61% of all public transport trips into Dublin city centre are on the bus, with the company operating 110 routes, including 19 high-frequency routes criss-crossing the city.
He said Dublin Bus was striving to retain existing passengers and attract new ones, pointing out that Dublin commuters had multiple alternative transport options.
Mr Courtney cited the importance of having a modern, clean reliable fleet of buses, giving value for money, and providing more on board services.
He referred to a number of improvements in services for Dublin Bus customers, including better real time passenger information and free wifi.
He also noted the introduction of the Leap card, which will be used more than 30 million times this year.
Mr Courtney acknowledged that staff had made their contribution to those changes, describing them as the company's greatest asset.
