Transport Minister Leo Varadkar has said there are likely to be fare increases and reductions in service at CIE companies.
Speaking on Morning Ireland, he said the State transport company's losses for last year were not as bad as in 2009, but it still lost €50m.
He said CIE provided a good service in many areas, but faced problems including falling passenger numbers, a pension deficit and a reduction in State subsidies.
The Minister said he would prefer to see an emphasis on cutting costs, rather than raising fares and reducing services, but he said there would 'probably have to be some level of fare increases' and some reduction in services.
The Minister said the level of any fare increases was yet to be determined, but would depend on how much could be saved in cost cuts, and how many more people were encouraged to use public transport.
Yesterday the Minister appointed new chairpersons to CIÉ and of its three constituent companies, Dublin Bus, Bus Éireann and Iarnród Éireann. Two of those posts were filled from people who had responded to a public advertisement.
The Minister also said there was no appointment yet to fill the chairperson's vacancy at the Dublin Airport Authority, but he expected one in the next few weeks. .
