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Transportation

Hong Kong train operator MTR warns of first annual loss

Plunge in property values pushes company $619m into the red

Looking down an escalator at an MTR train station: The Hong Kong public transport company is staring at its first annual loss.   © Reuters

HONG KONG -- Hong Kong's public transportation operator MTR said Tuesday it expects to report a net loss of around 4.8 billion Hong Kong dollars ($619 million) for 2020, which would mark the company's first year in the red since it went public in 2000.

In an announcement after market hours, MTR blamed the "significant adverse impact" of the ongoing coronavirus pandemic and the deterioration of the local economy for the record loss.

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