Kaohsiung Ferry Company Posts Over 60 Million Yuan Loss Amidst High Demand

Despite bustling passenger traffic on its ferry routes, particularly the popular Cijin-Gushan line, the Kaohsiung Ferry Company incurred a substantial loss exceeding 60 million yuan last year. This marks the company's largest deficit since the lifting of COVID-19 restrictions in 2021, pushing its cumulative losses to nearly 1.22 billion yuan.

The company's financial report for last year shows passenger revenue at approximately 99.27 million yuan, falling short of the budgeted 120.36 million yuan by over 21 million yuan. Passenger numbers also decreased, with 2.87 million recorded trips compared to the projected 4.73 million. Notably, the Cijin and Qianzhen routes, which offer free travel with the Cijin card, saw 3.46 million passengers.

Kaohsiung Ferry Company attributed the significant operating loss of 44.41 million yuan, coupled with non-operating losses of 17.77 million yuan, to a weak domestic tourism market and a tourism trade deficit. The company also noted that ferry fares are set to return to their original price of 30 yuan starting in 2025, which impacted revenue and passenger projections. The company manages several routes, including Cijin-Gushan, Qianzhen-Zhongzhou, and Cijin-Zhan 2nd Warehouse, along with the "Love River Boat" and sightseeing cruises.