MTR CEO Jacob Kam stated today (March 11) that the adjustment of ticket prices for this year is pending the government's release of final data, but it currently appears that prices will likely remain unchanged.
Kam indicated that a freeze on ticket prices this year is a result of the price adjustment mechanism established between the government and MTR. He emphasized that while passengers prefer lower fares, MTR staff hope for higher salaries, and the company will strive to achieve a balance.
He explained that the price adjustment mechanism relies on objective data and is generally reviewed every five years. In the last six-year cycle, there were three years of price freezes, one year of reductions, and two years of increases, demonstrating that the mechanism considers socioeconomic conditions while maintaining business sustainability.
Kam also mentioned that MTR has had several significant corporate updates in recent weeks, including last week's announcement of the 2024 performance report and adjustments to employee salaries.
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