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
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.
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.