MTR to extend popular second-trip fare concession beyond June
The MTR will extend its popular fare concession on second journeys until next March as it has not yet spent all the HK$670 million it put aside to provide travel discounts last year.
MTR Corporation's commercial director Jeny Yeung said passengers would continue to get a 10 per cent discount when they took a second trip on the same day, after the first phase of the scheme ends next month.
The operator will also improve its designated-route monthly pass, which allows a 25 per cent discount on routes other than the designated ones.
"These [concessions] are all part of the new fare adjustment scheme that allows us to share our profit with commuters," Yeung said.
The formula was adjusted so rises would be lessened, and a profit-sharing system was introduced in which the railway had to offer concessions of a certain amount when its profit exceeded HK$5 billion. Some lawmakers complained the scheme helped the MTR to cap the level of discounts it must offer.
Last year, the MTR decided to repay 100 per cent of its HK$670 million in extra earnings to passengers after public pressure to abandon a 5.4 per cent fare rise.
According to documents submitted to the Legislative Council, 14 million passengers enjoyed a "ride-10-get-one-free" concession during the second half of last year, using up HK$170 million. That was compared with a total of HK$240 million spent on the "10 per cent same-day second trip discount" since December 31, which benefited an average of 3.2 million passengers per day.
Combined with other concessions, this meant only HK$470 million of the HK$670 million extra earnings was used last year.