Finance:Farebox recovery ratio

From HandWiki
Short description: Fares collected versus operating expenses in public transport

The farebox recovery ratio (also called fare recovery ratio, fare recovery rate or other terms) of a passenger transportation system is the fraction of operating expenses which are met by the fares paid by passengers. It is computed by dividing the system's total fare revenue by its total operating expenses.[1]

Fare structures

There are generally two types of fare structures: a simple, flat rate fare structure (pay a fixed fare regardless of time of day and/or travel distance) or a complex, variable rate fare structure (pay a variable fare depending on time of day and/or travel distance). A variable fare structure is typically associated with a higher recovery ratio, though it may simply be the case that such systems are implemented only on more profitable networks or modes such as commuter rail. Variable-rate fares require a higher initial investment in fare ticketing technologies such as the use of contactless smart cards, turnstiles or fare gates, automated ticket machines, as well as IT infrastructure.[2]

Farebox ratios around the world

The farebox recovery ratio is the ratio of fare revenue to total transport expenses for a given system.[1] These two figures can be found in the financial statements of the operators. Oftentimes the operator runs multiple modes of transport (e.g. subway and bus), and there is no data for individual modes (segment analysis). In this case the operator is considered as one system, or a group of modes are collectively considered one system.

Fare revenue is not the same as "transport" or "operational" revenue, as there are often secondary sources of revenue such as lockers and paid restrooms and advertisement revenue. Fare revenue is a subset of transport revenue, which is in turn part of total revenue along with "non-transport" or "non-operational" revenue.

Total "transport" or "operational" expenses are a part of total expenses along with "non-transport" or "non-operational" expenses. Total transport expenses may include expansion projects if they are paid for by the operator.

Asia

Please note that, the "operating ratio" (Japanese: 営業係数 Korean: 영업계수) commonly published by some Asian systems is different from farebox recovery ratio even after inverting the number to turn cost per unit revenue into revenue per unit cost, as that figure includes all operating revenue instead of only the fare revenue.[3]

Country or Region System Ratio Fare system Year
Hong Kong Mass Transit Railway (MTR) 106.76% Mostly Distance based 2021[4]
Hong Kong Hong Kong Tramway 48.80% Flat rate 2021[5]
Hong Kong Kowloon Motor Bus 100.05% Route-specific 2021[6]
Long Win Bus 77.91% Route-specific 2021[6]
Hong Kong Citybus 72.98%[7] Route-specific 2021[8]
New World First Bus 76.73% Route-specific 2021[8]
Japan JR Central Rail 245.95% Distance based FY2018[9]
Japan JR East Rail 142.44% Distance based FY2018[9]
Japan JR West Rail 132.38% Distance based FY2018[9]
Japan JR Kyushu Rail 111.34% Distance based FY2018[9]
Japan JR Shikoku Rail 69.84% Distance based FY2018[9]
Japan JR Hokkaido Rail 59.18% Distance based FY2018[9]
Japan JR Freight Freight rail 96.25% Distance based FY2018[9]
Japan Sapporo Municipal Subway 220.79% Distance based FY2018[9]
Sapporo Streetcar 104.31% Flat rate FY2018[9]
Japan Hakodate Streetcar 82.87% Distance based FY2018[9]
Japan Sendai Subway 159.68% Mixed zonal and distance based FY2018[9]
Japan Tokyo Metro 161.55% Distance based FY2018[9]
Japan Tokyo Toei rail services 74%[10] | style="text-align: center" | Distance based 2015
Tokyo Toei Subway 171.46% Distance based FY2018[9]
Tokyo Toei Streetcar 83.39% Flat rate FY2018[9]
Tokyo Toei elevated rail 109.84% Flat rate FY2018[9]
Tokyo Toei other rails 136.81% Distance based FY2018[9]
Japan Yokohama Municipal Subway 232.28% Distance based FY2018[9]
Japan Meitetsu Railway 155.99% Distance based FY2018[9]
Meitetsu Tramway 90.70% Distance based FY2018[9]
Japan Nagoya Municipal Subway 167.24% Distance based FY2018[9]
Japan Kintetsu Railway Rail 152.77% Distance based FY2018[9]
Kintetsu Railway Cable 36.70% Various FY2018[9]
Japan Nankai Electric Railway Rail 161.26% Distance based FY2018[9]
Nankai Electric Railway Cable 31.12% Flat rate FY2018[9]
Japan Keihan Electric Railway Rail 166.51% Distance based FY2018[9]
Keihan Electric Railway Subway 29.05% Distance based FY2018[9]
Japan Keihan Electric Railway Streetcar 73.08% Distance based FY2018[9]
Keihan Electric Railway Cable 71.73% Flat rate FY2018[9]
Japan Hankyu Railway 123% Distance based 1991[11]
169.74% FY2018[9]
Japan Hanshin Electric Railway 146.75% Distance based FY2018[9]
Japan Osaka Municipal Transportation Bureau 137% Distance based 1991[11]
Osaka Metro Subway 208.51% Distance based FY2018[9]
Osaka Metro APM/AGT 105.35% Distance based FY2018[9]
Japan Kyoto Municipal Subway 201.04% Distance based FY2018[9]
Japan Kobe Municipal Subway 169.52% Distance based FY2018[9]
Japan Nishi-Nippon Railroad Rail 149.92% Distance based FY2018[9]
Japan Fukuoka City Subway 205.38% Distance based FY2018[9]
Japan Kitakyushu Monorail 144.15% Tabular FY2018[9]
Japan Nagasaki Electric Tramway 105.11% Flat rate FY2018[9]
Japan Kumamoto Tram 102.60% Flat rate FY2018[9]
Japan Kagoshima Tram 98.36% Flat rate FY2018[9]
Japan Okinawa Urban Monorail 187.55% Distance based FY2018[9]
Pakistan Lahore Metrobus 37.2% [12] Flat rate 2014
Taiwan Taipei Mass Rapid Transit 87.64% Distance based 2021[13]
Taiwan Kaohsiung Mass Rapid Transit 52.57% Distance based 2020[14]
Singapore SMRT Corporation (Singapore) 101% Distance based 2018[15]
China Beijing Subway 22% Flat rate[16] 2013[17]
35.08% Distance based 2021[18]
China Shenzhen Metro 82.20%[19] Distance based 2021[20]
China Guangzhou Metro 77.05%[21][22] Distance based 2021[21]

Europe

Country Region / City System Ratio Fare system Year
Austria Vienna Vienna U-Bahn 49% Flat rate 2008[23]
Germany Berlin Berliner Verkehrsbetriebe 70% Zone based 2010[24]
Belgium Brussels Brussels Intercommunal Transport Company 35% 2007[25]
Czechia Prague Prague Integrated Transport 17% Flat rate 2022[26]
Denmark Copenhagen Copenhagen Metro 95,2% Zone based 2025[27]
Jutland, Funen, Zealand Danske Statsbaner 59% Zone based 2025[28]
France Paris Île-de-France Mobilités 38% Flat rate[lower-alpha 1] 2018[29]
Germany Munich Munich Transport and Tariff Association 70% Zone based 2010[30]
Italy Milan Milan Transportation System 49% 2016[31]
Rome Rome Metro 36% 2007[25]
Netherlands Amsterdam Gemeentelijk Vervoerbedrijf Amsterdam 88% Distance based 2018[32]
Rotterdam Rotterdamse Elektrische Tram 99% Distance based 2018[33]
Poland Warsaw ZTM 37% 2019[34]
Spain Catalonia Metropolitan lines of Ferrocarrils de la Generalitat de Catalunya (Catalonia) 93% Zone based 2014[35]
Madrid Madrid Metro 41% 2007[25]
Sweden Stockholm Storstockholms Lokaltrafik 52% Flat rate 2017[36]
Kalmar County Kalmar länstrafik 43% Zone based 2023[37]
Östergötland County Östgötatrafiken 47% Zone based 2024[38]
Switzerland Zurich Zürich S-Bahn 60% Zone based 2014[31]
Finland Helsinki Helsinki Regional Transport Authority 49%[39] Zone based 2019
Turkey Istanbul Metro Istanbul A.S. 90% Flat rate 2019[40]
United Kingdom London London Underground 129.50%[41] Zone based 2022-2023[41]
London Overground and Docklands Light Railway 94%[42] Zone based 2018–19[42]
  1. ↑ Île-de-France is divided into 5 concentric zones starting from Paris. As of 2026, only weekly, monthly, and yearly Navigo subscriptions, can still be purchased at a fare including only either zones 2-3, 3-4, or 4-5, alongside the "all zones" option. All tickets and other subscriptions automatically include all zones.

North America

Canada

Canada Farebox recovery rate
Region Operator Fare Revenue ($000s, CAD) Operating Expenses ($000s, CAD) Ratio Fare System Year
Nationwide VIA Rail $408,400 $812,500 50.3%[43] Distance & demand based 2023[44]
British Columbia Coast BC Ferries $759,073 $985,196 77%[43] Flat rate 2025[45]
Brampton Brampton Transit $125,102 $233,752 53.5%[43] Flat rate 2024[46]
Calgary Calgary Transit $147,400[47] $437,900 33.7%[43] Flat rate 2023[48]
Edmonton Edmonton Transit System $123,841 $623,513 19.9%[43] Flat rate 2024[49]
Mississauga MiWay $101,400[50] $215,800[50] 47% Flat rate 2024[51]
Montreal Société de transport de Montréal 46% Flat rate 2016[52]
Ottawa OC Transpo $289,773 $724,386 40.0%[43] Flat rate 2024[53]
Quebec City Réseau de transport de la Capitale 39% Flat rate 2011[51]
Greater Toronto and Hamilton Area GO Transit $429,200 $1,816,900 23.6%[43] Distance based 2023[54]
Toronto Toronto Transit Commission $937,934 $2,392,245 39.2%[43] Flat rate 2023[55]
Vancouver TransLink 46.4% Zone based; transition to distance based upcoming 2024[56]
Victoria BC Transit (Victoria regional transit system) 28.4% Flat rate 2022[57]
Winnipeg Winnipeg Transit $92,544 $218,985 42.3%[43] Flat rate 2024[58]
Regional Municipality of York York Region Transit $75,000[59] $304,291 24.6%[43] Flat rate 2024[60]

United States

Region System Operator Fare Revenue Operating Expenses Ratio Fare System Year
Nationwide Amtrak $2,991,500,000 $3,626,800,000 81.1% Distance & demand based 2024[61]
Montgomery County MD, DC RideOn $5,276,327 $178,136,970 3% Flat Rate 2023[62]
Northern Virginia, DC VRE (Virginia Railway Express) $28,000,000 $190,000,000 15% Distance based 2023[63]
Boston, MA-NH-RI MBTA $545,414,783.00 $1,556,792,859.00 20.5% Flat rate[64] 2023[65]
New York-Newark, NY-NJ-CT NYC Ferry $25,324,000.00 $79,358,000.00 31.9% Flat rate 2025[66]
MTA Bus Company $189,205,000.00 $968,000,000.00 19.5% Flat rate 2025[67]
MTA Long Island Rail Road $695,229,000.00 $2,280,000,000.00 30.5% Zone based[68] 2025[67]
MTA Metro-North Railroad $661,156,000.00 $2,047,000,000.00 32.30% Zone based[68] 2025[67]
MTA New York City Transit $3,667,107,000.00 $12,271,000,000.00 29.9% Flat rate[68] 2025[67]
MTA Staten Island Railway $3,775,000.00 $82,000,000.00 4.6% Flat rate[69] 2025[67]
PATH $189,085,000.00 $365,523,000.00 51.73% Flat rate[70] 2026[71]
Roosevelt Island Tramway $6,050,916.00 2026[72]
NYCDOT $0.00 $91,211,000.00 0% Free (Staten Island Ferry and Hart Island Ferry) 2025[73]
NJTransit $743,742,067.00 $2,325,547,904.00 31.98% Zone based on most Buses and all commuter trains
Flat Rate on some buses and all light rails[70] 		2020[74]
Nassau Inter-County Express $33,186,987.00 $171,780,424.00 19.32% Flat rate 2025[75]
Bee-Line Bus System $17,197,904.00 $183,664,357.00 9.36% Flat rate 2025[76]
Chicago, IL-IN CTA $236,301,686.00 $1,436,453,698.00 16.45% Flat rate[77] 2020[74]
METRA $102,350,491.00 $710,195,494.00 14.41% Zone based[70] 2020[74]
Atlanta, GA Metropolitan Atlanta Rapid Transit Authority $100,300,226.00 $492,839,897.00 20.35% Flat rate[70] 2020[74]
Portland, OR-WA TriMET $94,456,931.00 $518,451,362.00 18.22% Flat rate[70] 2020[74]
Baltimore, MD MTA $102,029,183.00 $805,145,982.00 12.67% Variable[78] 2020[74]
San Diego, CA SDMTS $78,709,562.00 $291,553,478.00 27.00% Flat rate[70] 2020[74]
Houston, TX Houston Metro $37,305,222.00 $587,595,095.00 6.35% 2020[74]
Miami, FL County of Miami-Dade (Transportation & Public Work) $47,456,089.00 $553,336,216.00 8.58% Flat rate[70] 2020[74]
Denver-Aurora, CO RTD $76,264,572.00 $623,982,843.00 12.22% Zone Based[79] 2020[74]
Pittsburgh, PA PRT $79,071,495.00 $434,687,600.00 18.19% 2020[74]
Dallas-Fort Worth-Arlington, TX DART $43,547,629.00 $569,628,198.00 7.64% Flat rate[80] 2020[74]
Honolulu, HI City and County of Honolulu (Department of Transportation Services) $46,815,334.00 $278,447,442.00 16.81% 2020[74]
San Francisco-Oakland, CA SFMTA $153,699,058.00 $903,485,983.00 17.01% Flat rate[81] 2020[74]
BART $299,731,741.00 $1,048,144,667 28.59% Distance based[82] 2026[83]
AC Transit $66,561,904.00 $501,047,399.00 13.28% 2020[74]
Oakland Airport Connector 96% Flat rate 2015–2016[84]
Minneapolis-St. Paul, MN-WI Metro Transit $40,804,932.00 $413,038,880.00 9.88% Flat rate with rush hour and express surcharges[70] 2020[74]
Los Angeles-Long Beach-Anaheim, CA Orange County Transportation Authority $42,450,631.00 $268,394,220.00 15.82% 2020[74]
LA Metro $199,728,314.00 $1,841,473,552.00 10.85% Flat rate[70] 2020[74]
Long Beach Transit $10,201,475.00 $92,339,794.00 11.05% 2020[74]
Big Blue Bus $6,438,008 $85,659,665 7.5% Flat rate[85] 2025[86]
Phoenix-Mesa, AZ Valley Metro $21,292,051.00 $208,489,994.00 10.21% 2020[74]
San Antonio, TX VIA Metropolitan Transit $15,033,510.00 $222,032,078.00 6.77% Flat rate[70] 2020[74]
St. Louis, MO-IL St. Louis Metro $30,986,092.00 $282,175,101.00 10.98% 2020[74]
San Jose-Sunnyvale-Santa Clara, CA VTA $28,886,823.00 $403,260,461.00 7.16% 2020[74]
Buffalo, NY NFTA $34,814,699.00 $141,163,925.00 24.66% 2020[74]
Salt Lake City-West Valley City, UT UTA $32,521,480.00 $319,885,004.00 10.17% 2020[74]
Austin-Round Rock- San Marcos, TX CapMetro $15,298,332.00 $229,551,099.00 6.66% Flat rate[70] 2020[74]
Charlotte, NC-SC CATS $21,018,416.00 $162,317,729.00 12.95% 2020[74]
Detroit–Warren–Dearborn, MI DDOT $13,954,074.00 $101,100,585.00 13.80% Flat rate[70] 2020[74]
Miami–Fort Lauderdale–West Palm Beach, FL BCT $13,814,362.00 $158,832,625.00 8.70% 2020[74]
Milwaukee–Waukesha, WI MCTS $16,739,398.00 $141,752,155.00 11.81% 2020[74]
Orlando–Kissimmee–Sanford, FL Lynx $13,596,128.00 $139,097,081.00 9.77% Flat rate[70] 2020[74]
Sacramento, CA SacRT $21,517,225.00 $173,873,225.00 12.38% 2020[74]
Cleveland–Elyria, OH RTA $26,194,783.00 $259,797,759.00 10.08% Flat rate[70] 2020[74]
Washington, DC-VA-MD Washington Metropolitan Area Transit Authority $492,953,775.00 $2,028,885,121.00 24.30% Distance based[87] 2020[74]
Montgomery County, Maryland $13,387,860.00 $127,225,668.00 10.52% 2020[74]
Seattle, WA King County Metro bus 8.9% Flat[88] 2022[89]
Washington State Ferries 51% Route Based 2023[90]
Sound Transit Express Bus $14,403,774 $144,174,454 10% Zone & distance based 2023[91]
Sound Transit Link Light Rail $32,358,465 $205,314,451 16% Zone & distance based 2023[91]
Sound Transit Sounder Regional Rail $4,966,273 $65,649,821 8% Zone & distance based 2023[91]
Pierce Transit $54,164,161 $127,654,974 42% Flat rate 2021[92]
Albany-Schenectady, NY CDTA $20,804,704.00 $93,755,632.00 22.19% 2020[74]
Harrisburg, PA Capital Area Transit $2,398,430 $20,278,765 17% Flat rate 2022[93]
Las Vegas-Henderson, NV Las Vegas Monorail 56% Flat rate 2016[82]
RTC $51,823,479.00 $227,523,119.00 22.78% 2020[74]
Philadelphia, PA-NJ-DE-MD SEPTA $353,276,517.00 $1,301,894,928.00 27.14% Flat rate[70] 2020[74]
PATCO $15,542,809 $63,349,398 25% Distance based 2023[94]
Orlando, FL SunRail 7% Distance based 2018[95]
Peninsula Corridor Joint Powers Board (Caltrain) 70% Zone based 2019[96]
Santa Clara Valley Transportation Authority 10% Express surcharges 2016[97]
Southern California Regional Rail Authority (Metrolink) 34% Distance based 2019[98]

Oceania

Country Region System Ratio Fare system Year
Australia Canberra ACTION 6.3% Flat rate 2024[99]
Australia Brisbane Translink (Queensland) 24% Zone & time based 2013[100]
Australia Perth Transperth 23% Zone & time based 2013[100]
Australia Adelaide Adelaide Metro 21% Zone & time based 2013[100]
Australia Darwin Transport in Darwin 10% Zone & time based 2013[100]
Australia Hobart Transport in Hobart 22% Zone & time based 2013[100]
Australia Melbourne Melbourne 30% Zone & time based 2014[101]
Australia Sydney Sydney Trains 20% Distance based 2016[102]
Australia Sydney Metropolitan Bus System 25% Distance based 2016[102]
Australia Sydney Sydney Ferries 32% Distance based 2016[102]
New Zealand Auckland Auckland 44% Zone based 2012–13[103]
New Zealand Christchurch Christchurch 35% Zone based 2012–13[103]
New Zealand Dunedin Dunedin 60% Zone based 2015–16[103]
New Zealand Hamilton Hamilton 34% Flat rate 2012–13[103]
New Zealand Wellington Wellington 57% Zone based 2012–13[103]

South America

References

  1. ↑ 1.0 1.1 "State audit finds Md. transit agency didn't verify Purple Line design firm payments". Washington Post. https://www.washingtonpost.com/news/dr-gridlock/wp/2015/02/25/state-audit-finds-md-transit-agency-didnt-verify-purple-line-design-firm-payments/. 
  2. ↑ Dr. Jean-Paul Rodrigue, The Geography of Transport Systems, Third Edition, 2013
  3. ↑ "JR&私鉄全路線の収支 「営業係数」計算式を大公開", 週刊東洋経済臨時増刊 鉄道完全解明2014, p.61-62, February 20, 2014
  4. ↑ "2021 Annual Report – Consolidated Profit and Loss Account". https://www.mtr.com.hk/archive/corporate/en/investor/annual2021/E34.pdf. 
  5. ↑ "立法會交通事務委員會香港電車有限公司加價申請". 20 May 2022. https://www.legco.gov.hk/yr2022/chinese/panels/tp/papers/tp20220520cb4-372-2-c.pdf. 
  6. ↑ 6.0 6.1 "Transport International Holdings Limited - Annual Reports 2021". https://doc.irasia.com/listco/hk/transport/annual/2021/ar2021_024.pdf. 
  7. ↑ Combined both Franchise 1 & and Franchise 2.
  8. ↑ 8.0 8.1 "Citybus & NWFB Fuller Disclosure 2021". https://www.bravobus.com.hk/_common/pdf/Citybus_NWFB_Fuller2021.pdf. 
  9. ↑ 9.00 9.01 9.02 9.03 9.04 9.05 9.06 9.07 9.08 9.09 9.10 9.11 9.12 9.13 9.14 9.15 9.16 9.17 9.18 9.19 9.20 9.21 9.22 9.23 9.24 9.25 9.26 9.27 9.28 9.29 9.30 9.31 9.32 9.33 9.34 9.35 9.36 9.37 9.38 9.39 9.40 鉄道統計年報［平成30年度］：（5）－2 鉄・軌道業営業損益：((旅客収入 + 貨物収入) / 営業費合計(諸税･減価償却費を除く) ) * 100% (((Passenger revenue + Freight revenue)/(Operation cost before taxes and depreciation))*100%)
  10. ↑ "Budget" (in ja). https://www.kotsu.metro.tokyo.jp/about/information/closing/pdf/27_closing02.pdf. 
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  15. ↑ "SMRT Fares & Claims". https://www.smrt.com.sg/Journey-with-Us/SMRT-Buses/Fares-Claims. 
  16. ↑ Fare schedule was adjusted from flat rate to distance-based on 2014 (Beijing Subway § Fares)
  17. ↑ 地铁票背后的"算计" (in Chinese) 01 Dec 2014
  18. ↑ Fare revenue / Associated costs (票款收入/票款成本). Associated costs (票款成本) includes depreciation. "北京市基础设施投资有限公司2023年面向专业投资者公开发行公司债券（第一期）募集说明书". http://www.sse.com.cn/disclosure/bond/announcement/company/c/new/2023-03-22/115077_20230322_1TUA.pdf. 
  19. ↑ Total expenses to fare revenue ratio -1 (成本费用占营业收入的比重)
  20. ↑ "2021年年度报告". 5 July 2022. https://www.szmc.net/SMARTC/upload/file/20220705/1656985920567056072.pdf. 
  21. ↑ 21.0 21.1 1/(100%-gross margin of passenger service) (1/(100%-地铁运营业务毛利率)) "广州地铁集团有限公司 2023 年度跟踪评级报告". http://www.sse.com.cn/disclosure/bond/announcement/corporate/c/new/2023-06-16/139185_20230616_YPB0.pdf. 
  22. ↑ 85.0% if divide Operating Revenues by Total Operating Cost (营业收入/营业总成本). Operating Revenues include fare, advertisement, real estate, R&D, government subsidy etc. Total Operating Cost includes capital expenses. "2021年报". 5 July 2022. https://www.gzmtr.com/ygwm/gsgk/qynb/202206/P020220627576559999572.pdf. 
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  37. ↑ Ännu inte som förr i Kalmar län, Bussmagasinet, 2025, https://www.bussmagasinet.se/2026/02/annu-inte-som-forr-i-kalmar-lan/ 
  38. ↑ Affärsplan 2026–2028, Östgötatrafiken, 2025, p. 22, https://www.ostgotatrafiken.se/globalassets/media/regionen/styrdokument/affarsplan-2026-2028.pdf 
  39. ↑ "HSL's passenger numbers and ticket revenue increased in 2011". HSL. 28 March 2012. https://www.hsl.fi/en/news/2012/hsls-passenger-numbers-and-ticket-revenue-increased-2011-3326. 
  40. ↑ "Hakkımızda". https://www.metro.istanbul/icerik/hakkimizda. 
  41. ↑ 41.0 41.1 "TfL Recovery Ratio | London City Hall" (in en). https://www.london.gov.uk/who-we-are/what-london-assembly-does/questions-mayor/find-an-answer/tfl-recovery-ratio-0. 
  42. ↑ 42.0 42.1 "Transport for London Business Plan 2020/21 to 2024/25". December 2019. pp. 126–142. http://content.tfl.gov.uk/tfl-business-plan-2019.pdf. 
  43. ↑ 43.00 43.01 43.02 43.03 43.04 43.05 43.06 43.07 43.08 43.09 Calculated from fare revenue and operating expenes.
  44. ↑ "VIA Rail Annual Report 2023". VIA Rail. p. 22. https://media.viarail.ca/sites/default/files/publications/397_034_VIARAIL_ANNUAL-REPORT-2023.pdf. 
  45. ↑ "Annual Report to the British Columbia Ferries Commission Year Ended March 31, 2025". British Columbia Ferry Services Inc.. https://www.bcferries.com/web_image/images/h62/h76/9048649269278.pdf#page=37. 
  46. ↑ "2025 Budget Brampton". p. 558. https://www.brampton.ca/EN/City-Hall/Budget/Documents/2025%20Approved%20Budget_accessible.pdf. 
  47. ↑ Calculated from $175.6 (million, CAD) total revenue and non fare revenue growth of "$4.7 million (or 20 per cent)" for a calculated non-fare revenue of $28.2 million CAD
  48. ↑ "RouteAhead Annual Status Update 2023". City of Calgary. p. 37. https://www.calgarytransit.com/content/dam/transit/plans---projects/2023%20RouteAhead%20Annual%20Status%20Update.pdf. 
  49. ↑ "Financial Annual Report 2024 Section 3 Consolidated Financial Statements". City of Edmonton. pp. 7, 13. https://www.edmonton.ca/sites/default/files/public-files/FinancialAnnualReportConsolidatedFinancialStatements2024.pdf?cb=1746409055. 
  50. ↑ 50.0 50.1 Extrapolated from $114,407 (k, CAD) in shortfall funding and 47% cost recovery (p. 184)
  51. ↑ 51.0 51.1 "2025-2028 Business Plan & 2025 Budget Mississauga". p. 182. https://www.mississauga.ca/wp-content/uploads/2025/01/31120859/2025_Budget.pdf. 
  52. ↑ Annual report 2016 stm.info
  53. ↑ "2024 Transit Operating and Capital Budget Q2 Status Report". p. 3. https://pub-ottawa.escribemeetings.com/filestream.ashx?DocumentId=199901. 
  54. ↑ "2023-2024 Metrolinx Annual Report" (in English). pp. 45. https://assets.metrolinx.com/image/upload/v1747425421/Documents/Metrolinx/MX_2023-24_Annual_Report_EN.pdf. 
  55. ↑ "2023 Annual Report TTC". p. 42. https://cdn.ttc.ca/-/media/Project/TTC/DevProto/Documents/Home/Transparency-and-accountability/Reports/Annual-Reports/240725_2023AnnualReport-Accessible.pdf?rev=4c44e0853b154e1e934aeba7c3d0ccf9. 
  56. ↑ "TransLink Accountability Report 2024". p. 97. https://www.translink.ca/-/media/translink/documents/about-translink/corporate-reports/accountability_reports/2024/accountability_report_2024.pdf#page=97. 
  57. ↑ "#4 - Financial & Performance Report". BC Transit. June 13, 2023. https://www.bctransit.com/documents/1529722679869. 
  58. ↑ "2025 Adopted Operating and Capital Budget". 29 January 2025. https://www.winnipeg.ca/media/5071. 
  59. ↑ Calculated from p. 41. "Transit fare revenues are forecast to increase by $10.2 million in 2025 to $85.2 million..."
  60. ↑ "2025-2026 York Region Budget". Regional Municipality of York. February 18, 2015. pp. 41, 46. https://www.york.ca/media/123711/download?attachment. 
  61. ↑ "Monthly Performance Report". 29 August 2024. https://www.amtrak.com/content/dam/projects/dotcom/english/public/documents/corporate/monthlyperformancereports/2024/Amtrak-Monthly-Performance-Report-July-2024.pdf. 
  62. ↑ "2023 Annual Agency Profile - Montgomery County, Maryland (NTD ID 30051)". 2023. https://www.transit.dot.gov/sites/fta.dot.gov/files/transit_agency_profile_doc/2023/30051.pdf. 
  63. ↑ "2023 Annual Report Virginia Railway Express". VRE. 7 February 2024. https://www.vre.org/sites/vre/assets/VRE_2023AnnualReport_MECH_2.pdf. 
  64. ↑ "2018 Transit Agency Profile". FTA. https://www.transit.dot.gov/sites/fta.dot.gov/files/transit_agency_profile_doc/2018/10003.pdf. 
  65. ↑ "Massachusetts Bay Transportation Authority FY25 Itemized Budget". https://cdn.mbta.com/sites/default/files/2024-06/2024-06-FY25-MBTA-Budget.pdf. 
  66. ↑ "NYC Ferry, Supplemental Financial Information". https://edc.nyc/sites/default/files/2025-10/NYCEDC-NYCFerry-Supplemental-Financial-Information-FY21-25.pdf. 
  67. ↑ 67.0 67.1 67.2 67.3 67.4 "MTA February Financial Plan 2026 - 2029". https://www.mta.info/document/199041. 
  68. ↑ 68.0 68.1 68.2 "Farebox Recovery and Farebox Operating Ratios: 2019 Adopted Budget / Final Estimate and Preliminary Actuals" (XLS). Metropolitan Transportation Authority. December 2019. https://new.mta.info/document/13731. 
  69. ↑ Fare only collected at St. George and Tompkinsville Stations, and transfer from MTA buses and subways are free; as a result, a majority of riders ride on SIR for free by: 1) entering at a free station to head to Manhattan, or 2) by using a free transfer from NYCT buses and subways going southbound from the St. George Ferry Terminal.
  70. ↑ 70.00 70.01 70.02 70.03 70.04 70.05 70.06 70.07 70.08 70.09 70.10 70.11 70.12 70.13 70.14 Federal Transportation Administration (September 2017). "National Transit Database Transit Profiles: 2016". https://cms.fta.dot.gov/sites/fta.dot.gov/files/docs/ntd/66026/top-50-summary-and-complete-profile-set_1.pdf. 
  71. ↑ "PANYNJ Budget FY2026". Jun 25, 2026. https://www.panynj.gov/content/dam/corporate/budgets-pdfs/2026-budget.pdf. 
  72. ↑ "PROPOSED RIOC BUDGET FOR FISCAL YEAR 2026-27". https://d3olf8azjyqv1e.cloudfront.net/media/approved-budget-fiscal-year-26-27-(pdf)-8484.pdf. 
  73. ↑ "NYC FY2025 Adopted Budget". https://www.nyc.gov/assets/omb/downloads/pdf/feb26/feb26-bfa.pdf. 
  74. ↑ 74.00 74.01 74.02 74.03 74.04 74.05 74.06 74.07 74.08 74.09 74.10 74.11 74.12 74.13 74.14 74.15 74.16 74.17 74.18 74.19 74.20 74.21 74.22 74.23 74.24 74.25 74.26 74.27 74.28 74.29 74.30 74.31 74.32 74.33 74.34 74.35 74.36 74.37 "Transit Profiles: 2020 Top 50 Reporters". September 2021. https://www.transit.dot.gov/sites/fta.dot.gov/files/2021-11/2020%20Top%2050%20Profiles%20Report_0.pdf. 
  75. ↑ "2025 Operating Budget". https://www.nicebus.com/getattachment/Passenger-Information/Community-Meetings/2025-operating-budget.pdf.aspx?lang=en-US. 
  76. ↑ "Westchester County FY2026 Adopted Budget". https://www.westchestercountyny.gov/images/stories/budget/2026/2026_Adopted_Operating_Budget.pdf. 
  77. ↑ "Chicago Transit Authority 2018 Budget Recommendations". Chicago Transit Authority. http://www.transitchicago.com/assets/1/finance_budget/2018_Budget_Book_2017-11-21_FINAL_web_version.pdf. 
  78. ↑ "Transit Profiles: Top 50 Agencies". http://www.ntdprogram.gov/ntdprogram/pubs/top_profiles/2012/Transit%20Profiles%20Top%2050%20Agencies.pdf. 
  79. ↑ Curley, Caitlin (26 September 2019). "RTD says its costs far exceed revenue". Colorado Politics. https://www.coloradopolitics.com/quick-hits/rtd-says-its-costs-far-exceed-revenue/article_8d25f930-e061-11e9-b0d4-cbc7de67f776.html. 
  80. ↑ "Dallas Area Rapid Transit Reference Book". https://www.dart.org/about/dartreferencebookmar17.pdf. 
  81. ↑ "Muni farebox recovery ratio". San Francisco Municipal Transportation Agency. 20 May 2019. https://www.sfmta.com/reports/muni-farebox-recovery-ratio. 
  82. ↑ 82.0 82.1 "Financial Statements 2016". https://40p8jznnbth2x4kjqy2wvfb3-wpengine.netdna-ssl.com/wp-content/uploads/2017/06/2016-and-2015-FINAL-LV-Monorail.pdf. 
  83. ↑ "BART FY2027 Budget". https://www.bart.gov/sites/default/files/2026-06/FY27%20Attachment%201%20Income%20Statement.pdf. 
  84. ↑ Baldassari, Erin (27 November 2016). "BART's Oakland Airport Connector losing money; Uber, Lyft to blame?". East Bay Times. http://www.eastbaytimes.com/2016/11/27/barts-oakland-airport-connector-losing-money-uber-lyft-to-blame/. 
  85. ↑ "Fare Information - Big Blue Bus". https://www.bigbluebus.com/Fares/Fare-Information.aspx. 
  86. ↑ "A Year of Progress: Our FY24–25 Transportation Annual Report" (in en-US). https://www.santamonica.gov/blog/a-year-of-progress-our-fy24-25-transportation-annual-report?mc_cid=eca550641d&mc_eid=3c90b4daa5. 
  87. ↑ "30030 - 2016 Agency Profile". https://www.transit.dot.gov/sites/fta.dot.gov/files/transit_agency_profile_doc/2016/30030.pdf. 
  88. ↑ https://kingcounty.gov/en/dept/metro/fares-and-payment/prices [bare URL]
  89. ↑ "Financial - Annual". https://docs.google.com/spreadsheets/d/1sNzVcEAmAx7lzGG--Js3eCx3U9tGizPATqy3D4QT10Y/pubhtml?gid=12&single=true. 
  90. ↑ Route Statements For Fiscal Years 2018 to 2023
  91. ↑ 91.0 91.1 91.2 2023 fare revenue report
  92. ↑ "2021 Annual Financial Report". https://www.piercetransit.org/file_viewer.php?id=6362. 
  93. ↑ "FTA Transit Profiles". 2022. https://www.drpa.org/pdfs/Budget_Operating_PATCO_2023.pdf. 
  94. ↑ "PATCO Operating Budget". 2023. https://www.drpa.org/pdfs/Budget_Operating_PATCO_2023.pdf. 
  95. ↑ SunRail. "Central Florida Rail Commission Quarterly Update". Central Florida Rail Commission. https://corporate.sunrail.com/wp-content/uploads/2019/01/01-31-19-CFCRC-Meeting-Materials.pdf. 
  96. ↑ "Comprehensive Annual Financial Report Fiscal Years Ended June 30, 2020 and 2019". Peninsula Corridor Joint Powers Boeard. https://www.caltrain.com/Assets/_Finance/CAFR/CT/Peninsula+Corridor+Joint+Powers+Board+CAFR+2020.pdf. 
  97. ↑ Richards, Gary (30 November 2016). "VTA bus routes due for a shakeup in 2017". The Mercury News. http://www.mercurynews.com/2016/11/30/vta-bus-routes-due-for-a-shakeup-in-2017/. 
  98. ↑ "Comprehensive Annual Financial Report for Fiscal Years Ended June 30 2020 & 2019". 31 December 2020. https://metrolinktrains.com/globalassets/about/financial-reports/comprehensive-annual-financial-report---fiscal-year-ended-june-30-2020.pdf. 
  99. ↑ https://www.canberratimes.com.au/story/9115851/opinion-canberra-public-transport-costs-surge-revenues-lag/ [bare URL]
  100. ↑ 100.0 100.1 100.2 100.3 100.4 "Urban public transport: updated trends". September 2014. https://www.bitre.gov.au/sites/default/files/is_059.pdf. 
  101. ↑ Urban passenger transport: Updated trends Bureau of Infrastructure & Transport Research Economics
  102. ↑ 102.0 102.1 102.2 Cost recovery Independent Pricing and Regulatory Tribunal
  103. ↑ 103.0 103.1 103.2 103.3 103.4 "Access to the transport system : Accessibility of public transport". Transport.govt.nz. http://www.transport.govt.nz/ourwork/tmif/accesstothetransportsystem/am023/. 



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