[Colm Moore]

http://www.irishtimes.com/newspaper/...?via=frontpage

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Separately, Irish commuters are facing a hike in bus and rail fares of about 6 per cent.

A CIÉ spokesman confirmed yesterday that it had held “initial discussions” with the National Transport Authority about fare increases for Iarnród Éireann, Dublin Bus and Bus Éireann for 2013.

However, he declined to comment on the level of increase being sought. “Both the level and the timing would be a matter for the NTA,” he said.

The Irish Times has learned that CIÉ is seeking a 6 per cent rise in its fares revenue, which could yield it an additional €4 million.

On Tuesday, the Cabinet approved emergency funding of €36 million for CIÉ to bolster its finances against a backdrop of declining passenger traffic and higher fuel prices.

CIÉ has also committed to selling assets to raise additional finance.

Minister for Transport Leo Varadkar said yesterday he could not rule out an increase in CIÉ fares but added that no rise had been agreed.