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FARES MTR's fare setting policy is to review and adjust its fares annually, roughly in line with inflation. As a result, revenues generated should be sufficient to cover operating costs, debt servicing, and capital expenditure, in addition to providing an appropriate return to its shareholders. One strategy to increase ridership in 2003 included improvement of linkages with other modes of transport. We also increased patronage through other well-received discount initiatives such as the "Ride 10 get One Free" scheme, group tickets and concession fares on the Airport Express Line (AEL).  To promote the healthy benefits of walking, MTR Corporation joined the Hong Kong Medical Association's "Healthy 8000 Steps" Campaign in 2003. MTR identified 10 routes that involve 480 to 1,900 steps. Signs were posted at Fare Saver machines and within the MTR to inform passengers of the estimated number of steps they would be walking on each route while reminding them of the different health benefits that come with walking. Passengers could then estimate the number of steps they had walked and enjoy the $2 saving on MTR journeys from designated stations by using the Fare Saver machines. MTR has full autonomy in setting its own fares without any Government or legislative approval. Historically, MTR has voluntarily consulted with the public, the Government and the legislature before setting its fares. This consultation process was formally adopted in the Operating Agreement between MTR and the Hong Kong Government. After carefully reviewing economic conditions in Hong Kong and in the overall interest of MTR, the Boards of Directors decided not to implement a fare increase in 2003. |
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