MANILA, Philippines — The Light Rail Transit Authority (LRTA) generated more than P500 million in revenues from fare collection as of May, gaining from the sustained level of commuter traffic in Metro Manila.
LRTA, the operator of the Light Rail Transit Line 2 (LRT-2), is raking in higher revenues so far this year as the railway is seeing better ridership on the return of onsite schooling and work.
Revenues from fare collection grew by 32 percent to P524.45 million from January to May compared to P398.69 million a year ago.
Further, passenger volume jumped by 12 percent to 21.81 million during the period. Notably, the railway has retained its monthly ridership at above four million, reaching as high as 4.65 million in January.
LRTA earlier raised P1.1 billion from its rail operations in 2023, overcoming the pre-pandemic high of P1.07 billion in 2019. Similarly, it improved its ridership to 49.43 million, but has yet to revert to the pre-pandemic level of 56.98 million.
For 2024, LRTA expects LRT-2 ridership to hit 50.7 million, optimistic that the resumption of in-person classes and work will spur commuter demand.
As a state-run firm, LRTA requires as much funds as it can get to pursue maintenance works and upgrade plans given that the government can only subsidize so much of the railway.
Based on its financial report, LRTA turned in a surplus of P2 billion in the first quarter, from a deficit of P1.08 billion a year ago.
Currently, LRTA is asking the government for its commitment to finance a project that would expand LRT-2. However, it has yet to land a multi-year contracting authority from the Department of Budget and Management.
In particular, the LRTA is pushing for the construction of the LRT-2 West Extension Project that would add three stops to the west of the Recto Station, namely, in Tutuban, Divisoria and Pier 4.
The project is estimated to cost P10.12 billion, and an MYCA ensures that the funding will be set aside every year.
Internally, LRTA is raising funds from ticket sales and non-rail segments like ad placements in trains and retail concessions in stations.
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