ENG-2013 — Page 261

13

Transport

2013 to 2017. Any future fare increase under the FAM formula will be capped so that it does not exceed the change in the Median Monthly Household Income for the corresponding period.

The new FAM also introduces a profit sharing mechanism to enable the MTRCL to share its yearly profit with passengers by way of a concession scheme. A new service performance arrangement addresses public concerns that the MTRCL should be penalised for serious service disruptions. Proceeds of any fine thus imposed will go towards the MTRCL's concession scheme.

In addition, new types of concessionary tickets have been introduced to benefit medium and long-distance frequent travellers.

Tramway

Electric trams have been running on Hong Kong Island since 1904. Hong Kong Tramways Limited runs seven routes on 13 kilometres of double tracks along the northern shore of Hong Kong Island between Kennedy Town and Shau Kei Wan, and about three kilometres of single track around Happy Valley.

The company's 164 trams, including two open-balcony trams for tourists and private hire, and one special maintenance tram, make up the world's largest fleet of double-deck trams in operation. The tramway recorded a daily average of 198,000 passenger trips in 2013.

Peak Tram

Hong Kong's other tramway is a cable-hauled funicular railway operated by the Peak Tramways Company Limited from Central (Garden Road) to the Peak. The 1.4-kilometre line began operation in 1888 and was modernised in 1989. The Peak Tram recorded an average of 17,100 passenger trips a day in 2013, made up mostly of tourists and local sightseers.

Other Road-based Passenger Transport

The other road-based passenger transport modes (mainly franchised buses, public light buses, taxis and residents' non-franchised buses) account for 57 per cent of all public transport passenger journeys.

Franchised Buses

Franchised buses are the largest road-based carriers and account for 32 per cent of the total daily public transport volume. Bus services in Kowloon and the New Territories are largely provided by The Kowloon Motor Bus Company (1933) Limited (KMB). At year-end, KMB operated 310 bus routes in Kowloon and the New Territories and 10 cross-harbour routes on its own. At year-end, KMB had a licensed fleet of 3,844 buses, of which 2,706 were wheelchair-accessible low-floor buses. KMB recorded 953 million passenger trips in 2013 (a daily average of 2.61 million passenger trips) covering 300.66 million kilometres of roads.

Bus services on Hong Kong Island are provided by New World First Bus Services Limited (NWFB) and Citybus Limited (CTB). At year-end, NWFB was operating 49 bus routes on Hong Kong Island, eight in Kowloon and Tseung Kwan O and 33 cross-harbour routes, 29 of which were run jointly with KMB. NWFB had a licensed fleet of 715 buses, of which 657 were wheelchair-

213