XCCI (87) 17
Year-End
Average
Weekday Fare
Page
2
Year-End
Including
Weekday
Government
Annual
Year
Patronage
Reimbursement
Patronage
Annual Fare Revenue
1982
1.18m
$2.24
351m
$
764m
1983
1.20m
$2.40
412m
$ 960m
1984
1.15m
$2.78
411m
$1,064m
1985
1.41m
$2.90
463m
$1,300m
1986
1.58m
$3.06
532m
$1,582m
5
very
The MTRC considers its performance for 1986 was satisfactory. The budgetted annual passenger volume and fare revenue were both achieved. Because of success in containing operating costs and lower-than-expected interest rates, the loss for 1986 after interest and
interest and finance charges but before extraordinary items was $936m as compared to the loss anticipated in the Corporation's budget of $1,279m. The loss before property development profits and other non-recurring items for each year since the railway first opened is given below.
Loss After Interest and Finance Charges
Year
1980
$ 696m
1981
$ 532m
1982
$ 387m
1983
$ 535m
1984
$ 545m
1985
$ 788m
1986
$ 936m
Total
$4,419m
After taking account of accumulated property development profits of $1,753m minus cumulative losses, and provisions for unrealised losses, on foreign currency loans totalling $967m, total losses carried forward at 31 December 1986 were $3,633m.