Fare rises handled prudently

2023-05-31 14:13:35

The Chief Executive in Council today approved fare increases for five franchised bus operators and the new fares will take effect on June 18.

The average fare increase of Citybus for Hong Kong Island and cross-harbour routes and New World First Bus is 4.9%, while that of Citybus for the Airport and North Lantau bus networks is 4.2%.

The average fare rise of Kowloon Motor Bus is 3.9%, while the average fare hikes of Long Win Bus and New Lantao Bus are 4.2% and 7% respectively.

In arriving at the fare increase rates of individual routes, the Government looked into the service nature and existing fare levels of such routes and made adjustments to effect relatively lower rates of increase for daily commuters to minimise the impact of the fare increases on the public.

Upon the implementation of new fares, about 87% of passengers will pay no more than $0.5 extra per trip and almost all passengers should pay no more than $1 extra per trip, it added.

According to the Fare Adjustment Arrangement for Franchised Buses agreed by the Chief Executive in Council, the Government has taken into account a basket of factors in assessing the bus fare adjustments.

Such factors include changes in operating costs and revenue since the last fare adjustment; forecasts of future costs, revenue and return; the need to provide the bus operator with a reasonable rate of return; public acceptability and affordability; the quality and quantity of service provided; and the outcome of the supportable fare adjustment rate formula.

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