Guangzhou-Shenzhen-Hong Kong Express Rail Link revenues, passengers fall short of estimates two months after launch, MTR figures show
- Daily passenger number 38 per cent below the rail giant’s estimate of 80,100
Hong Kong’s new high-speed cross-border rail link has failed to increase its revenue or passenger numbers in the second month of operation and is falling short of a government prediction that it would be profitable from day one.
Just over three million travellers used the line between September 23 and November 22 – about 1.5 million each month, according to operator the MTR Corporation.
Average daily patronage for the much-hyped project was 50,000, about 38 per cent below the rail giant’s estimate of 80,100.
The railway, which was more than a decade in the making and cost the city HK$84.4 billion (US$10.8 billion), is at risk of missing a government profit target for the year of HK$199 million (US$25 million) before tax and interest, and estimated revenue of HK$671 million (US$86 million).
But the MTR Corp on Friday argued travellers would take time to warm to the service. The operator said it would continue to upgrade services in a bid to appeal to a variety of passengers.