Annual Report 2023

23 2023 Annual Report Transport International Holdings Limited Resumption of Normalcy After three years of the COVID-19 pandemic in Hong Kong, the cancellation of isolation orders and the lifting of mask- wearing requirements in the first quarter of 2023 signalled the full resumption of normalcy in society. The demand for public transport services gradually recovered, accompanied by new customer travel patterns. Measures were implemented to ensure bus service levels met public needs. New Fare Adjustment KMB and LWB adjusted their fares with effect from 18 June 2023. As approved by the Chief Executive in Council, KMB fares should be increased by an overall actual weighted average rate of 3.9% after a 1.6 percentage points mitigation effect by its Franchised Bus Toll Exemption Fund, resulting in an average increment of HK$0.3 per journey. Preferred Choice of the Public KMB is dedicated to providing bus services with the best travel experience for the public through a value-for-money service, a comprehensive bus service network, and innovative and eco-technologies. KMB has introduced electric double-deckers to operate on busy corridors in Hong Kong to improve the roadside air quality Value-for-Money Services KMB Monthly Pass KMB continues to enhance its service by providing affordable and convenient journeys for passengers. KMB has launched the Monthly Pass Scheme (the “Pass”), the first monthly pass for franchised buses in Hong Kong, under which passengers can take up to ten rides per day on KMB buses (plus two additional trips on Route B1). In May 2023, the Pass extended its coverage to include not only over 400 KMB routes, comprising regular routes, overnight routes and racecourse routes, but also LWB bus routes as a reward for passengers under the new 10-year LWB franchise. For LWB services, the Pass holders are entitled to use the Pass to travel on E-, N-, S-, R- and X- routes and enjoy a 73% off on bus fare when taking LWB’s A and NA routes. The price of the Pass increased to HK$800 starting from September 2023, three months after the new fare came into effect. KMB has further rolled out exclusive privileges for Monthly Pass holders under various programmes: A “Fare for Upgraded Journey” campaign which offers a discounted fare for KMB Monthly Pass holders travelling on New Long-haul Bus Routes P960 and P968; With each purchase of the Pass, passengers can earn 800 points towards redeemable KMB gifts and eCoin under the KMB membership scheme, club1933; and A manned hotline with operators dedicated to enhancing the travel experience of Pass holders.