<p>In order to tide over the acute financial crisis caused by the Covid-19 pandemic, a tourist bus operator in Kerala has put up his luxury tourist buses for scrap sale.</p>.<p>Royson Joseph, owner of the Kochi-based Royal Travels, put up his tourist buses for scrap sale as it was difficult to get buyers for buses owing to the grim scenario of the travel and tourism sector.</p>.<p>Joseph said that he was demanding only Rs 45 per kilogram for each of the buses. He owned 20 luxury buses before Covid. Over the last one and a half years, he had to sell ten buses to meet bank obligations and pay his employees their salary. However, he decided to sell more buses in scrap after his financial woes continued.</p>.<p>Joseph hopes to sell three or four buses and estimates that each bus may get a scrap value of Rs 4.5 lakh. By settling the bank dues with the amount, he hopes to maintain the remaining buses and revive his business in due course. By selling these buses though, many employees would be rendered jobless.</p>.<p>Kerala had witnessed many business persons even ending their life owing to the financial stress caused by the pandemic. Even as the government directed banks to give a moratorium on loans, many businesspersons still availed loans from private money lenders considering the ease of getting loans. However, the private moneylenders extort the borrowers with no leniency during Covid, industry sources said.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>In order to tide over the acute financial crisis caused by the Covid-19 pandemic, a tourist bus operator in Kerala has put up his luxury tourist buses for scrap sale.</p>.<p>Royson Joseph, owner of the Kochi-based Royal Travels, put up his tourist buses for scrap sale as it was difficult to get buyers for buses owing to the grim scenario of the travel and tourism sector.</p>.<p>Joseph said that he was demanding only Rs 45 per kilogram for each of the buses. He owned 20 luxury buses before Covid. Over the last one and a half years, he had to sell ten buses to meet bank obligations and pay his employees their salary. However, he decided to sell more buses in scrap after his financial woes continued.</p>.<p>Joseph hopes to sell three or four buses and estimates that each bus may get a scrap value of Rs 4.5 lakh. By settling the bank dues with the amount, he hopes to maintain the remaining buses and revive his business in due course. By selling these buses though, many employees would be rendered jobless.</p>.<p>Kerala had witnessed many business persons even ending their life owing to the financial stress caused by the pandemic. Even as the government directed banks to give a moratorium on loans, many businesspersons still availed loans from private money lenders considering the ease of getting loans. However, the private moneylenders extort the borrowers with no leniency during Covid, industry sources said.</p>.<p><strong>Check out latest DH videos here</strong></p>
