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Lexington Herald-Leader: Mar 27, 2009 | Friday | METRO FINAL EDITION
LexTran's Ridership numbers:
5,900,000 (est.) total number of passenger boardings 2008 (Lexington Herald-Leader: JULY 19, 2008)
"LexTran ridership was 17 percent higher in April 2008 than it was in April 2007. More than 350,000 rides were taken on LexTran buses in April of this year." (Lexington Hearld-Leader Jun. 06, 2008)
350,000 x 12 months = 4,200,000 boardings not 5,900,000 boardings. Subtract the approximately 3 months UK not in session and that number drops to 3,780,000 (35.93 % difference). Is anyone questioning these numbers?
LexTran buses should have on average 1,077 passengers any hour between 6:20am and 9:10pm 365 days a year. With a 43 bus pullout requirement, every bus in Lexington should contain 25 passengers at any given hour according to lexTran's own numbers.
Q: Why inflate ridership numbers? A: The only way Veolia Transportation can increase profits for their stockholders is to grow LexTran, thus growing the management fee charged. (Veolia Management Fee increased 68.92% from FY 08 to 09)
* If the lower number of 3,780,000 boardings is the "real" number, then the cost per passenger jumps to $ 5.30
Real Cost of LexTran:
Passenger Fares & Other Operating Revenues $ 1,823,842 / 5.9 million boardings = 31 cents revenue per boarding.
Total revenue $ 20,042,143 / 5.9 million boardings = $ 3.48 actual cost per boarding. (not counting capital expenditures)*
If the lower number of 3,780,000 boardings is the "real" number, then the cost per passenger jumps to $ 5.30 per boarding.