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Lo Hoi-ying

Lawmakers have slammed Hong Kong’s franchised bus operators for seeking fare increases that exceed the inflation rate despite some reporting profits, calling for a review of the adjustment mechanism.
Nearly 20 lawmakers questioned bus operators’ proposed increases in a two-hour meeting of the Legislative Council’s transport panel on Friday.
KMB and New Lantao Bus applied to raise fares by 6.5 per cent, despite both firms reporting profits last year, while Citybus is seeking an increase of nearly 9.5 per cent.
Lawmaker Edward Leung Hei questioned the decision of Citybus’ parent company to pay stakeholders HK$450 million in dividends last year despite claiming financial losses.
Citybus, which carried a daily average of 840,000 passengers last year, incurred a post-tax loss of more than HK$57 million, after logging a deficit of HK$39 million after tax in 2022.
“Based on open data, the overall profit was HK$100 million. This loss of HK$57 million is a lie to the public,” he said at the meeting attended by representatives of the bus companies.
Panel chairman Ben Chan Han-pan echoed Leung’s remarks, saying: “People think you are struggling but you are paying dividends to shareholders. That’s something people won’t be happy with.”
New Lantao Bus had 90,000 passengers a day in 2023 and made a profit of HK$2.9 million after tax, compared with a loss of HK$8.8 million the previous year.
The city’s largest bus firm, KMB, carried a daily average of 2.53 million passengers last year, generating a profit after tax of HK$20.2 million. It made a loss of HK$41.2 million in 2022.
KMB finance director Joseph Leung said the opening of the MTR Corporation’s East Rail line cross-harbour extension and Tuen Ma line had cost the company 130,000 commuters every day.
“In the future, there will be more MTR lines. We will always be losing customers to rail services,” he told the panel.
Lawmaker Kitson Yang Wing-kit accused the bus operators of “lying flat” in the face of increased competition, referring to the popular Chinese term for doing the bare minimum to get by.
“Did you change or adapt? Did you work on competing with MTR? Bus companies have the advantage of a wide network and point-to-point service to attract more commuters,” he said.
“You have to think about how to add value. It’s survival of the fittest. You are lying flat and making the consumers bear the cost.”
Fellow lawmaker Michael Tien Puk-sun said his Roundtable party would “definitely reject” any applications to increase fares by more than the inflation rate of 3.4 per cent in the last two years.
He suggested bus companies be subject to a fare increase mechanism similar to that of the MTR Corp, which is linked to the inflation rate.
“Bus fares should be reviewed yearly so we won’t need to have a huge debate here every two to three years,” said Tien, who chaired the Kowloon-Canton Railway Corporation before it was merged with the MTR Corp in 2007.
While the representatives of the three bus firms welcomed his suggestion, they said factors such as fuel surcharges had to be included in the calculations.
Transport-sector lawmaker Frankie Yick Chi-ming said bus fare increases typically lagged behind the inflation rate by one to two years due to a “structural issue”.
“People are complaining about fare rises that are higher than the inflation rate, but operators say that in the past 15 years, they have only increased fares by 25 per cent over four rounds while the cumulative inflation is 50 per cent,” he noted.
The Chief Executive in Council makes the final decision on fare-increase applications.
Deputy Secretary for Transport and Logistics Ida Lee Bik-sai said the government would consider financial viability, public affordability and acceptability when deciding on the applications.


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Hong Kong franchised bus firms feel heat over proposed fare increases

KMB and Citybus have applied to increase fares by 6.5 and 9.5 percent, respectively. Photo: Jelly Tse

3 Hong Kong franchised bus firms apply to increase fares by up to 9.5%

Citybus and KMB have applied to increase fares by 9.5 percent and 6.5 per cent, respectively. Photo: Jelly Tse

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KMB is own of two bus firms seeking government approval to raise fares, sources have told the Post. Photo: Jelly Tse

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Hong Kong’s Citybus offers 3 days on, 2 off to lure 100 Gen Z drivers to diversify workforce

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News

Hong Kong

Transport

Nearly 20 lawmakers question bus firms’ proposed increases of 6.5 to 9.5 per cent in a two-hour transport panel meeting


Nearly 20 lawmakers question bus firms’ proposed increases of 6.5 to 9.5 per cent in a two-hour transport panel meeting.
