A fare hike looks likely in Singapore next year because bus services are not profitable enough for the two state-linked public transport operators. They are making millions of dollars overall, but not as much as they used to earlier, according to their latest quarterly reports. In fact, SMRT, in its second quarter report dated October 31, says it is in a “net debt position”.
Both SBS Transit and SMRT reported higher bus operating losses despite an increase in the number of passengers. [Read more…]