Hong Kong’s MTR Corporation set to freeze ticket prices this year, with 3.8 per cent fare rebate set to be extended
- Ticket prices will remain the same based on a mechanism that calculates fare levels; last increase was in 2019
- Fifth wave of coronavirus infections has resulted in a significant drop in MTR patronage, company official says
The MTR Corp on Monday said the rebate was part of an ongoing HK$2.2 billion (US$281 million) in fare concessions given to passengers annually and it would bear a cost of HK$2.8 billion as a result of its offers and promotions.
MTR Corp transport services director Jeny Yeung Mei-chun said the corporation experienced its worst performance in patronage during the fifth wave of the coronavirus pandemic, but decided to weather the challenges together with the Hong Kong people.
“In the fifth wave of the pandemic, the public has been focused on fighting the pandemic which drastically reduced their commutes and substantially affected commercial activities in many sectors, resulting in a significant drop of MTR patronage by over 50 per cent,” she said.
The rail giant’s latest offers include: an extension of the 3.8 per cent fare rebate for passengers using contactless Octopus cards or QR code tickets; no price adjustments to monthly passes; a 35 per cent discount for early bird travellers; and a 30 HK cents and above discount with interchange fares with 500 designated green minibus routes.
The company had reduced fares in the past two years amid the coronavirus pandemic, and last raised ticket prices in 2019, by 3.3 per cent.
As stipulated in a fare-adjustment mechanism deal between the MTR Corp and the government, the majority shareholder, changes are calculated using the inflation rate and a wage index for transport workers.