The high speed rail may lower ticket prices to deal with its current financial crisis. Last year, it increased the price of tickets by 10% to try to deal with its financial problems.
Minister of Transportation Yeh Kuang-shih said on Tuesday that high speed rail shareholders are discussing the railway’s financial problems with lawmakers. The final plan is not out yet, but they may decide to lower prices.
"If we don’t do anything, the high speed rail will go bankrupt," said Yeh.
"If it goes bankrupt, the government will take over and will have to clear its debts. This will be a big hassle and lead to many problems. Banks will certainly have financial losses."
The new financial plan for the high speed rail’s finances will come out soon. Yeh said the goal is to enable the high speed railway to be able to operate long-term with a healthy financial situation.