£50,000' Gain From Lower Fares
If you've noticed an error in this article please click here to report it so we can fix it.
WORKPEOPLE'S weekly return VY tickets, instituted in 1945, increased the annual revenue of Lincoln Transport Department to the tune of £50,000 in six years. This statement was made by the retiring general manager, Mr. George Rock, in a report published Ian week.
In 1945, the daily workmen's return ticket was replaced by a weekly ticket, which cost less than the daily realm. Daily return tickets from 1940-1943 accounted for 21.7 per cent, of the total receipts. The average revenue accruing from the sale of weekly tickets from 1945-1951 amounted to only 15.7 per cent. of the total. Thus, the issue of the new type of ticket had stopped the abuse of the daily returns and increased the sale of ordinary single tickets.
It was clear that although the issue of daily return tickets would have increased revenue as compared with the issue of weekly tickets, revenue from ordinary fares would have been reduced by twice the amount of the increases. In all, therefore, it was estimated that in the six years since the system had been introduced, £49,651 had been added to the overall revenue,