Hanoi first metro line turns profitable

The Hanoi Railway Company, operator of the capital’s Cat Linh-Ha Dong metro line, Vietnam’s first, reported profits of VND8.5 billion (US$360,000) for the first half of this year.

Its revenues for the period were up nearly nine times year-on-year at VND254 billion, according to its unaudited financial statements.

It had made a loss of VND43 billion in the first half of last year.

A fare subsidy since mid-2022 has helped improved the company’s financial health, its executives said.

In September last year, to meet the burgeoning demand, the Hanoi Metro bought two more trains to add to its existing seven.

During peak hours since there has been a train every six minutes instead of the earlier 10.

This year the company hopes to carry over 10.6 million passengers.

Single tickets cost VND8,000-15,000, a day pass costs VND30,000, and a monthly pass is priced at VND200,000.

Built at a cost of $868 million with funding from Chinese official development assistance, the elevated route runs more than 13 km log and has 12 stations.

By Tat Dat – VnExpress.net – October 2, 2023