LRT passenger numbers rise, but revenue remains flat

The Light Rapid Transit (LRT) system reported total revenue of MOP770 million in 2024, with government funding accounting for 88% of that amount, according to the operator’s annual report released recently.

Although overall revenue dipped slightly by 0.5% compared to 2023, ridership saw a significant increase. The LRT saw approximately 129,000 service frequencies, carrying approximately 5.37 million passengers in 2024, a 117% increase from the previous year’s total.

Despite the increase in travelers choosing the LRT as their means of transportation in 2024, DSAT’s fourth quarter data for that year reported a total public bus ridership of 227 million passengers.

By comparison, LRT ridership came in 97.63% lower than that of the combined total carried by the two public bus operators that year.

In its 2024 financial report, the LRT company highlighted December as a milestone month, with average daily ridership surpassing 23,100, exceeding 20,000 for the first time since the Taipa Line started charging fares.

Ticket revenue increased by 105%, reaching MOP14.18 million in 2024, the company said.

Other operating income, such as leasing fees from vending machines, ATMs, and parking, contributed nearly MOP40 million.

Operating expenses increased 2% to MOP47 million in 2024. Personnel costs accounted for about 40% of total expenditures.

By year-end 2024, the LRT’s workforce expanded significantly from 247 employees at the end of 2023 to 855 (+246.6%). The higher expenses reflect preparations for the full implementation of the support services contract for the Taipa Line as well as the commissioning of the Seac Pai Van and Hengqin lines, the operator states.

Key company milestones in 2024 include the official opening of the Hengqin Light Rail Line in December 2024, as well as the passage opening between the Union Hospital Station directly to the hospital in September 2024.

“[It] will also explore more revenue-generating opportunities for the LRT,” the firm said,

The LRT currently operates the Taipa, Seac Pai Van, and Hengqin lines, with the Taipa Line extending to the peninsula via the Sai Van Bridge.

Ongoing infrastructure investments include the east line connecting Zone A to Taipa (Zone E), with an estimated cost of MOP9.28 billion and an expected completion in 2029.

Just recently, chair of the Legislative Assembly’s Follow–up Committee for Public Finance Affairs Wong Kit Cheng said that the original completion date for the LRT East Line project was 2027, but it was postponed to 2029 in the third quarter of last year and then again to 2031 in the fourth quarter.

“The government explained that the construction period for the train system will last until 2029, and according to the contract, part of the payment is due by 2031,” said Wong.