LRT-2 operator says ridership ‘still low’
By Ashley Erika O. Jose, Reporter
LIGHT Rail Transit Authority (LRTA), the operator of Light Rail Transit Line 2 (LRT-2), expects its total revenues to decline to P1.33 billion this year due to lower non-rail revenues.
For the year, LRTA expects its ridership to grow, said Hernando T. Cabrera, LRTA administrator.
Data provided by Mr. Cabrera showed that for 2024, LRT-2 will see its total ridership expand by 2.6% to 50.7 million from 49.43 million in 2023.
Daily average ridership is also expected to increase to 140,444 from 136,921 last year.
“Our ridership is still low even after the pandemic and the reason for that is most of our passengers are students, and face-to-face classes have not been fully restored yet,” Mr. Cabrera said, adding that students account for the bulk or around 40% of LRT-2 passengers.
For 2023, LRT-2 recorded an average weekday ridership of 154,495 from 95,879 in 2022, while its last year’s total average daily ridership hit 136,921 from 87,887 in 2022.
In 2019, LRTA logged a total ridership of 56.98 million. Its daily average ridership was recorded at 159,615, while its highest daily ridership for the year reached 249,701.
Its 2024 revenue forecast stood at a total of P1.33 billion, according to Mr. Cabrera, however, this is 19.4% lower than the P1.65 billion total revenues recorded in 2023, LRTA’s accomplishment report showed.
Broken down, its 2024 rail revenue target is expected to grow to P1.2 billion, 9.1% higher than last year’s P1.1 billion.
However, its non-rail revenues, which are income generated from rentals, leasing, and advertising spaces, are expected at P132.09 million, lower than the P553.57 million non-rail revenues recorded last year.
The LRTA is also undertaking the LRT-2 West Extension project, which covers three kilometers from Recto Avenue station to Pier 4. This project will have three stations: Tutuban, Divisoria, and Pier 4.
The LRT-2 West Extension project will cost an estimated P10.12 billion. The project also includes the procurement of additional light rail vehicles to meet growing passenger demand.
In January, the Department of Transportation (DoTr) said it aims to secure funding for LRT-2’s West Extension project this year.
To date, Mr. Cabrera said that they are still working to secure funding for the project.
“No funding yet [for the project,]” he said in a separate Viber message.
In 2023, LRTA through the DoTr requested the issuance of multi-year obligational authority (MYOA). Once issued, the authority will signify the government’s commitment to fund the project.
The MYOA is issued by the Department of Budget and Management to government agencies undertaking multi-year projects.
