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Hong Kong MTR

MTR offers HK$500 million savings to passengers to take sting out of coming fare increase

New concessions include 3 per cent rebate for every Octopus trip from June 30 to January 1 and no change in price for the MTR City Saver, Monthly Pass Extra and Tuen Mun-Nam Cheong Day Pass for six months

PUBLISHED : Monday, 28 May, 2018, 9:38pm
UPDATED : Saturday, 02 June, 2018, 4:17pm

The MTR Corporation will sweeten a coming fare increase with a promotional campaign offering savings of more than HK$500 million from next month, it announced on Monday.

The new concessions include a 3 per cent rebate for every Octopus trip from June 30 to January 1, and deferring price adjustments for the MTR City Saver, Monthly Pass Extra and Tuen Mun-Nam Cheong Day Pass by six months.

A new discount of 30 cents will be introduced when changing between the MTR and more than 500 green minibus routes for Octopus passengers, with effect from June 3.

A 25 per cent discount scheme for adult Octopus users exiting one of 35 core urban stations between 7.15am and 8.15am on weekdays would be extended for a year.

The railway operator will raise ticket prices by 3.14 per cent from June 30, according to a controversial fare adjustment mechanism, despite recording a 64 per cent rise in net profit to HK$16.8 billion (US$2.14 billion) last year.

MTR’s commercial director Jeny Yeung said the promotion was carefully designed to benefit the wider public and a variety of passengers while maintaining the firm’s financial sustainability.

“Frequent travellers will experience no actual fare increase in 2018,” Yeung said.

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She added that together with HK$2.6 billion of fare concessions for different sectors of the community, including the elderly, children, students and disabled people, MTR Corp would be providing more than HK$3 billion worth of concessions in the coming 12 months.

Yeung said the rail operator had spent more than HK$8.6 billion maintaining and upgrading the existing network last year. The initiatives included replacing signalling systems on six urban railway lines and the Airport Express, the purchase of 93 new eight-car trains, and 40 Light Rail vehicles.