Mayor Michael R. Bloomberg and New York Bus Service, Inc. President James O'Reilly today announced an agreement in principle regarding the transition of the franchise bus service provided by New York Bus Service to the Metropolitan Transportation Authority (MTA). New York Bus provides service to more than 10,000 riders in the Bronx every day. This agreement is the third between the City and the seven operators of franchise bus lines.

"I am very pleased we have reached an agreement with New York Bus Service," said Mayor Bloomberg. "This is another important step toward completion of the transfer to the MTA of the franchise bus lines. I look forward to working with New York Bus and the MTA over the coming months on the transition to the MTA operation of the bus lines."

"New York Bus Service looks forward to working with the City of New York and the MTA in accomplishing a seamless transfer of our express bus operation without any inconvenience to our riders," said James O'Reilly, President of New York Bus Service. I would also like to take this opportunity to thank all of our employees who have worked so hard in providing an excellent commuter service for our riders between the Bronx and Manhattan."

New York Bus Service currently operates 143 buses on six express bus routes between Manhattan and the Bronx. The MTA will provide service in the areas where New York Bus Service operates upon the closing of the transaction, which is expected to occur in late summer. The time before the transfer to the MTA will allow for the resolution of issues arising out of the use of the New York Bus's Depot for commuter bus and school bus operations. On January 4th, the MTA began providing service in the areas formerly served by Liberty Lines and on February 26th, the MTA began providing service in the areas formerly served by Queens Surface Corporation.