a 15.6 per cent increase that has been deferred to future fare review exercises,
Expunging the deferred fare increase or freezing fare hikes does not mean the costs of running the system will “simply disappear into thin air”, he said. This is the steepest increase since 2019, when fares rose also by 7 per cent. The 11-cent hike is the highest on record. Mr Chua pointed out how one operator generated a return on equity of close to 11 per cent in the past year and 13 per cent in the last five years. “In that sense, I struggle to see how the financial sustainability of the operator at this point in time is actually in question,” he said.
Bus and rail services operate under different financing models and need to be looked at separately, he said.More support for vulnerable, heavy public transport users in latest fare review For train services, operators SMRT and SBS Transit collect fares to cover their operating costs. Changes in fares will thus impact their profitability, Mr Chee noted.
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