The SCMP article mentions they are losing $20m a year on the ferry service. To me, thats nothing, The same company running the ferry service runs everything in DB (HKR) and right now they are selling brand new luxury flats called 'Amalfi'. They have full page ads for this in The Standard etc. I am sure that many of these units are selling for more than $20m.
Im no expert on this and maybe I am overseeing something obvious. But I really think increasing the ferry fares has to be about the dumbest move that HKR could possibly make. If just one person decides not to live in DB because of this, one person moves out of DB because of this, they are already worse off.
If the ferry was losing hundreds of millions and causing them to go bankrupt, I could possibly understand. But a $20m annual loss is nothing and I think a perfectly justifiable loss considering that this service is the lifeblood of the community and generated far far more benefit for HKR than the $20m loss they are making on it.
Somebody please tell me what am I missing here? It must be something? I cannot believe my own writing and I cannot believe a company can be this stupid.