18
With regard to paragraph 15(c), costs overall are expected to increase by something in the region of 10% per annum, which in 1979 would represent about two thirds of the 1978 profits on ferry operations.
19
It is predicted that there will be additional passenger revenue from ferry services in 1979, but that this will not be enough to maintain profits at the (low) 1978 level.
Proposed increases
20
A number of minor modifications have been made to HYF's original proposals. HYF has confirmed its agreement with these modifications. The revised proposals are detailed against the existing fare structure at Annex D. The following points are brought to Members' attention.
(a)
(b)
(c)
Cross' harbour passenger ferry services
The proposed basic increase is from 40d to 504, with a proportionate adjustment to the price of monthly tickets. The child fare would go up from 20% to 30%.
Cross harbour hoverferry services
An increase of 50% from $2 to $3 is proposed for these services.
Hong Kong - Tsuen Wan service
An increase of 50% from $1.00 to $1.50 is
proposed for this service. Because of constraints on the design of turnstile facilities, caused by the very small passenger marshalling area, it is not possible to~-
implement a concessionary fare for children on this route. Should improvements to pier facilities become possible,
consideration will be given at a later stage to granting a concessionary $1.00 childrens' fare.
CONFIDENTIAL