New World First Bus' new managing director, Samuel Cheng Wai-po, proves he means to be hands-on at the company's Heng Fa Chuen depot yesterday. He warned that a fare rise was inevitable in light of rising wages and operating costs, but it would not happen this year.
Mr Cheng, who succeeded Lyndon Rees this month, said concessions offered under the bus fare adjustment mechanism would cost the company $20 million a year.
'There was a slight increase in passenger turnover, of 1 per cent, for the routes where a discount was offered, but the increase cannot offset the cost of the concession,' he said. Mr Cheng also promised a 'satisfactory' response to the demand by staff for pay rises of at least 5 per cent. 'We will explain to them our financial difficulties,' he said.
