The company added that despite selling stakes in Octopus Holdings, its buses will continue to accept payment made by Octopus. Bravo Transport is the parent company of Citybus and New World First Bus in Hong Kong. Although our direct involvement in Octopus will soon come to an end, it is still one of the most popular payment methods for our customers and we will continue our strong working relationship going forward," said a spokesman of Bravo Transport.īravo Transport said it was losing about HK$25 million a month, adding that it had an accumulated loss of about HK$379 million. We've had an amazing journey with the Octopus over the past 27 years and we are proud to have been one of the pioneers of electronic payment systems in Hong Kong. "It is indeed a sad but necessary day given the current circumstances.
#Mtr corporation drivers#
As Hongkongers can hardly travel and only a handful of international visitors coming to the city, Bravo Transport said the high revenue drivers from the Hong Kong airport and cross-border routes, which have a cross-subsidising effect on local routes, have suffered the most significant impact.
In a statement, the company said the pandemic and the current wave relating to the Omicron variant continued to put intense pressure on its business.
Bravo Transport has sold its stake of about 2.78 million shares in Octopus Holdings to MTR Corporation.
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