The MTR Corporation on Friday said it would again keep its fares at existing levels this year, marking the second fare freeze by the railway giant since its pricing formula was reformed in 2023.

In a statement, it also said it would continue to offer fare concessions for more than 600 million rides, with the value for such concessions last year amounting to over HK$3.2 billion.

The fare freeze was made based on its fare adjustment mechanism, which took into account factors such as the latest wages for transport-sector workers, consumer price inflation, the company's productivity and profitability, as well as the affordability of local households.

Calculations of these factors registered a 1.4 percent increase, lower than the threshold of 1.5 percent that would trigger a fare rise.

That also means any change in fares, including the latest calculated increase along with that in the past, would be deferred to next year.

In a statement, the group's Hong Kong transport services director, Wilson Kwong, said that the formula was "objective", "transparent" and fully took into account "prevailing" social-economic conditions and public affordability".

"As a company with a unique role in Hong Kong, MTR strives to maintain fare levels that remain competitive, while giving back to the community through a range of concessions and other initiatives," he said.



Edited by Tony Sabine