Bucharest transport authority STB faces insolvency amid billions of euros in land assets

Societatea de Transport București (STB) is preparing to enter insolvency as its debt reaches roughly 1.7 billion lei to the tax authority and an estimated total of 3 billion lei, including about 402 million lei in penalties. The City Hall says the procedure is meant to halt further debt accumulation while preserving public‑transport services, with municipal subsidies continuing to cover salaries, fuel and parts.

STB owns valuable real‑estate in premium Bucharest districts such as Floreasca, Băneasa‑Herăstrău and Piața Victoriei, assets that the Professional Association of Transporters warns could be targeted for acquisition during the restructuring. A separate incident captured a driver on line 290 playing Candy Crush on his phone while the bus was in service in the Pipera area, highlighting operational concerns amid the financial crisis.