CONFIDENTIAL
機密
}
2
Review of Existing Situation
Existing MTR Fares
3.
The existing single ride farea are $1.00, 31.50, 32.00, $2.50 and 33.00 and the average fare paid by passengers is about 1.90. The maximum fare payable for intra Kowloon journeys is 32.00 and the minimum cross harbour fare is also $2.00. Both 10-ride and 50-ride tickets, are also at the same cost per ride. These fares are considerably lower than those envisaged in 1975 which, when converted to 1930 prices, would range from $1,40 to $3.50. The only change to fares since the MTR opening in October 1979 was the reduction from $2.50 to $2.00 for travel between Chater/Admiralty and Jordan, effective 22nd February, 1981.
4.
1:
MTR Patronage
The 1930 revenue budget was
:
the same as that initially projected in 1975 before MIS construction began. However, because of the lower fares actually charged in 1980 than originally envisaged, the budgetted patronage became correspondingly higher. Although the average daily patronage on the full MIS has increased from below 400,000 in April 1930 to over 550,000 at present (see Figure 1), the level at the end of 1930 was still only 44% of budget. Considering passengers not requiring feeder services the actual volume is some 69% of budget
hile the actual volume of passengers using feeder services is only 54% of budget.
5。
MTR Revenue in 1930 The 1980 fare revenue as originally envisaged was 390 and the actual revenue was $290M, a shortfall of 100M. The loss incurred by the Corporation during 1980 since the full MIS was opened on 12 February and before taking into account property development profits and provision for unrealised currency losses was some $700M compared with an original anticipated loss of $244. The main reason for this adverse position is the high rates of interest that obtained during 1930. The shortage of revenue was also a significant factor. The Corporation believes that a fundamental reason for the shortfall in revenue was the less than adequate feeder services and virtually no bus redeployment.
6.
Feeder Bus Services At the end of January 1981, 23 regular special feeder services, designated by the letter M' had been introduced. The Corporation is. reasonably satisfied with the number of services intro- duced so far but not with the frequency. It believes that all major feeder routes should have a frequency of 5: minutes or better having regard to the average ride time of about 11 minutes on the MTR. Furthermore, feeder services provided to the railway are much less attractive than those provided to ferry services, largely because of historical developments whereby major bus termini were located at ferry piers.
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CONFIDENTIAL
機密