THE Light Rail Transit Authority (LRTA) posted a 28.2% drop in revenue in the first nine months as fare discounts offset higher ridership on Light Rail Transit Line 2 (LRT-2).
Revenue fell to P676.48 million in the January-to-September period from P942.34 million a year earlier, based on LRTA data.
Passenger traffic rose 15% to 48.32 million from a year earlier.
The decline in collections followed the Department of Transportation’s order granting a 50% fare discount on LRT-2 and Metro Rail Transit services after the government declared an emergency in response to the Iran war.
Third-quarter revenue dropped 35.4% to P194.58 million from a year earlier. Ridership in July to September increased 14.3% to 16.57 million passengers.
For 2026, LRTA is targeting fare revenue of P1.1 billion and ridership of 60.62 million passengers.
The agency expects average daily ridership of about 165,624 passengers. If achieved, annual ridership would exceed the 56.98 million passengers recorded in 2019, the last full year before the pandemic.
The Department of Transportation is working with the International Finance Corp. on the planned privatization of LRT-2 through a public-private partnership.
The government aims to use private sector participation to expand the rail line and increase ridership. — Ashley Erika O. Jose