COST OF LIVING/Taoyuan Metro to adjust discount fares in January 2025

Taipei, Oct. 16 (CNA) Taoyuan Metro Corp. said Wednesday that it will adjust its fares on Jan. 2, 2025, including abolishing a blanket discount introduced to encourage ridership.

In October 2018, Taoyuan Metro, which began operations the previous year, reduced fares by NT$10 for passengers across the board.

However, with the discount scheme contributing over NT$1 billion (US$31.06 million) to the metro's accumulated losses of NT$3.207 billion, it is no longer financially feasible, the corporation said in a statement.

To minimize the impact of the adjustment, the company said it will simultaneously roll out several discount schemes for certain trips.

Metro passengers who do not get on or disembark at Taoyuan Airport will get a NT$5 discount for each ride, while Taoyuan residents will get a 30 percent discount on all fares.

Discount rates for season passes will be increased, while TPass fares will not be affected, the corporation said.

Despite recording a net profit of NT$124 million in 2023, operating costs that year exceeded those of 2018 by NT$766 million, the corporation said, in part due to a rise in electricity rates.

With electricity rates increasing and subsequent expenses for repairing and maintaining facilities, more long-term losses are expected to accumulate, the corporation added.

Furthermore, the COVID-19 pandemic created losses of NT$2.581 billion, which the corporation said forced it to take out a bank loan.

The corporation added that its financial planning had been criticized by Taoyuan City government auditors.