SINGAPORE – The Land Transport Authority reported a deeper deficit for its 2020/21 financial year, which is not entirely unexpected given how the pandemic has vastly reduced public transport usage in the past 18 months.

On the back of an unprecedented 30 per cent drop in fare revenue – chiefly in bus fares – the LTA posted a record deficit of $2.904 billion last year, according to its annual report released on Sept 30. This shortfall was 20 per cent more than the year before.

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