$191 million ferry subsidy proposed

Six major ferry routes to benefit.

In a report, chairman Larry Kwok said the Transport Advisory Committee supports the Government's proposal to continue helping measures for major outlying island ferry routes.

The committee also endorsed at its meeting today the upward adjustment of financial caps to $191 million, to give better assurance of ferry routes’ financial viability for the next three-year licence period, from mid-2014 to mid-2017.

A mid-term review of six major routes showed that existing measures were essential to maintaining financial viability.

The six routes are the Central to Cheung Chau, Inter-islands and Central to Mui Wo routes operated by New World First Ferry Services Limited, and the Central to Peng Chau, Central to Yung Shue Wan and Central to Sok Kwu Wan routes operated by Hong Kong & Kowloon Ferry Holdings Limited's three subsidiaries.