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Translink's chief executive is due to appear before a Stormont committee later to argue why the company needs more money to keep out of the red.

MLAs at the Regional Development Committee will be asking why fares are going up and profits down.

Earlier this week, DRD Minister Danny Kennedy told the Assembly he might have to ask the Department of Finance for more money to prop up the company.

MLA David McNarry said he was not prepared to do that.

Mr McNarry, an independent assembly member, said he would not be asking that public money be used to "bail out a failing enterprise".

"I am not going to be sucked into agreeing to waste public money," he said.

"Moreover, jobs seem to be at stake. It all comes down to services which are likely to be reduced. The public will suffer."

Mr McNarry claimed the new request from Translink, a publicly-funded company, came on top of an additional £15m which the company is counting on in its three-year plan, which will see them running up losses of £22m in the second and third years.

This is the second time in less than a month that Translink has appeared before the DRD Committee.

In April, Translink announced fares would go up by an average of 3%.

A Department for Regional Development analysis of Translink's three-year corporate plan anticipated Translink would make a profit of £2m this year (2012-2013) but will then start to make significant losses with a deficit of £11.6m expected in 2013-2014, and £10.5m the following year (2014-15).