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Wednesday, June 7, 1972
The Governor in Council has approved a revision of the fare structure involving
a flat 20 cent fare for the Company's Lower Level Routes with the elimination of the 10-cent section fare.
flat fares of 20 cents or 30 cents on the Company's Hill Climbing Routes and the elimination of section fares.
an upward revision of the full fare on three of the Company's suburban routes and the retention of section fares on all these routes, but with upward adjustments.
The Company has decided to abolish adult monthly tickets.
Concessionary fares for students are to be retained, but in a modified form and partly at public expense.
The Financial Secretary said the revised fare structure is to come
into effect on July 1 next.
He described C.M.B.'s current financial position as "no better
than that of K.M.B. before the recent fare revision and all the indications
are that it will continue to deteriorate."
He attributed this to steadily rising operating costs, falling total
revenue as the result of the fall in the number of passengers, and increased
cost of operation per passenger for the same reason.
Mr. Haddon-Cave said C.M.B.'s exclusive franchise ceased to exist with
the regularisation of public light buses in 1969.
In the following year, the Company was particularly hard hit because
the number of public light buses operating on the Island increased by eight times.
"Furthermore," the Financial Secretary said, "with the development
of housing estates in Chai Wan, Wah Fu and Aberdeen, the Company has had to
provide additional suburban services which have, by and large, not been profitable."
/He said
No comments yet.
Private notes are available after approval.