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Jakarta Post

All aboard the ‘tunai’ express: MRT expects Rp 60 billion in profit this year

  • Vela Andapita

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, November 27, 2019   /  06:29 pm
The Jakarta Post Image
A security guard walks on the platform at the Lebak Bulus MRT station in South Jakarta during the rail system’s trial run in March.(The Jakarta Post/Wienda Parwitasari)

City-owned public transportation operator MRT Jakarta expects a profit of Rp 60 to 70 billion (US4.2 to 4.9 million) this year, mainly from ticket sales, ticket subsidies and non-farebox business. MRT Jakarta president director William Sabandar said he was surprised to discover that income from non-farebox business quickly exceeded that of ticket sales. That business includes naming rights, advertisements and partnerships with telecommunication companies and retailers. “From the non-farebox, we estimate that we will close 2019 with Rp 225 billion of revenue. That is larger than our estimated earnings from ticket sales, about Rp 180 billion,” he said on Wednesday. “Most of our income, however, still comes from ticket subsidies, about Rp 560 billion,” he added, noting that the company also expected to earn Rp 40 billion more from bank interests. Of th...