Hong Kong bus operator offers discount for same-day, same-route services
For a limited time, franchise bus operator KMB will give a rebate to passengers on selected trips
Franchised bus operator KMB has announced a 20 per cent discount on same-day return trips for passengers who ride on a single route or within the same group.
To be eligible for the concession scheme, which will come into effect for 88 days from November 5 to January 31 next year, passengers must pay by Octopus card for both trips.
The discount applies to trips made on the same route or those under the same grouping of routes. For example, trips made on 960, 960A, 960B and 960X all count as the same route number.
However, cross-harbour routes operated by multiple bus franchises are excluded from the scheme, as well as connecting bus routes for the east rail line K12, K14, K17 and K18.
The discount is offered in conjunction with the half-fare concession for children and the HK$2 fare for elderly passengers, with the lower fare adopted.
The concession was installed as part of the governments fare adjustment mechanism, which ensures public transport operators reimburse part of their excess earnings to passengers every year.
Under the adjustment mechanism agreement, 50 per cent of any franchise bus operator’s revenue, which exceeds the standard 9.7 per cent rate of return on net fixed assets, must go back into providing customer rewards.
According to the latest annual report of KMB’s mother company Transport International Holdings, passenger rewards totalled HK$76.15 million in 2015, a seven-fold increase from HK$9.25 million in 2014.
The bus operator last raised its fares in July 2014, by 3.9 per cent. Profits from its franchised bus service subsequently increased 139 per cent, to more than HK$644 million by the end of 2015.