Bankrupt Kerela man selling his luxury buses worth Rs 50 lakh for Rs 45 per kg

Feb 15, 2022 1 min read
Bankrupt Kerela man selling his luxury buses worth Rs 50 lakh for Rs 45 per kg

Due to the Covid-19 pandemic, many businesses have run into massive losses. Another such incident took place with a luxury bus owner in Kerela. He has decided to sell his remaining ten premium coaches at Rs 45 per kilogram.

Royson Joseph, who is a part of tours and travel industry has already sold half of his vehicles in the similar way and decided to sell remaining buses in a same way. According to him, even when the buses are not running, they are forced to pay for insurance, maintenance, taxes, and salaries to employees from their pockets.

The Contract Carriage Owners Association (CCOA) president Binu John claimed that this is not the first time that tourists buses were being sold at a price of per kilogram.

A 40-seater luxury buses costs over Rs 50 lakhs and even if we break it under normal circumstances, it has to get at least around 20 trips in a month. However, due to pandemic, there are hardly 5 trips in a month now.

The bus owners like Joseph has already decided to sell it at Rs 45 per kilo, the CCOA asks the state and Centre to extend a helping hand, otherwise, this industry will fall into more trouble.

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