London Daily

Focus on the big picture.
Thursday, Jul 31, 2025

Hong Kong’s World-Class Subway Pressured By Repeated Attacks

MTR faces operational pressures as protesters and police clash. From Sydney to Stockholm, governments looking for help with their rail systems turn to Hong Kong’s MTR Corp., renowned for its speedy, clean and reliable commuter trains.

That polished image is now tarnished at home, as months of unrest frequently boils into violence and vandalism on Hong Kong’s subway. MTR facilities have looked more like battlefields on some weekends. Protesters have smashed windows at stations and set a fire blazing outside a station in the main business district. Police have fired pepper spray and been seen beating people aboard a train. Black-clad activists have protested at MTR-owned shopping centers and obstructed services on the network, which has more than 90 stations.

For many activists, MTR has become an antagonist, working with the government and the police to suppress their pro-democracy movement by closing stations and preventing people from going to and from protests.

“They are sacrificing passenger safety for the police,” said Katherine Chau, a 26-year-old airport worker who has taken part in protests, now in their 15th weekend. In early September, she began jumping over MTR turnstiles rather than paying as a way of opposing the broader system.

This has turned into a challenge for a new leadership team struggling to maintain MTR’s expansion abroad while also containing the damage from a 2018 construction scandal that severely damaged its reputation in Hong Kong.

Hong Kong’s Safest Stock Falls Off the Rails as Protests Hit MTR

Overseas, MTR operates rail networks in Australia, Sweden and the U.K. Closer to home, the company runs trains in mainland China and will operate a light rail system scheduled to open soon in Macau.

MTR’S Chief Executive Officer Jacob Kam has been on the job since April and Rex Auyeung became chairman in July. They have to contend with weekly crises as clashes between demonstrators and the police repeatedly cripple the network’s busiest arteries. The pair also face revenue declines from a slowing economy. Cathay Pacific Airways Ltd. on Sept. 11 reported its biggest drop in passenger traffic in more than a decade, a bad sign for a company like MTR that counts on tourist spending, according to to Michael Wu, a Hong Kong-based analyst with Morningstar Inc.

“The Airport Express line is going to be hit the hardest since it’s very tourism-driven,” Wu said.

MTR did not respond to requests for comment on the business impact of the unrest. In a statement on Sept. 8, the company said it condemns the violence and closes stations only “as a last resort for the sake of staff and passengers safety.”


In the Line of Fire

MTR Corp. Has been closing some stations during protests temporarily

MTR has taken heat from both sides of the conflict. While anti-government protesters target the company, China’s state-owned media also issued blistering attacks last month, when MTR was running additional trains to accommodate a surge in demand from people participating in demonstrations.

“MTR operates exclusive train for violent protesters,” the official Xinhua News Agency said in an Aug. 22 tweet. “MTR, a means of public transport? Or an accomplice to rioters?”

On the weekend of Sept. 7 and 8 alone, MTR closed seven stations, including major interchanges such as Prince Edward. On Sept. 8, a fire blazed outside Central station in Hong Kong’s main business district.

In an open letter to MTR passengers released on Sept. 8, the two top officials criticized violence and vandalism, which they said threatened the safety of MTR staff. The letter didn’t refer to concerns protesters have raised about the company’s cooperation with the government and police.

“At this crucial moment, we wish all sectors of the community could treasure and safeguard this railway network which has been carrying our collective memories over the past few decades,” Auyeung and Kam wrote.

The beleaguered train operator has one major advantage: a captive market that depends on its transportation network. Despite the weekend disruptions, the metro system still operates as usual most of the time, serving millions of passengers a day.

“You may see a reduction in ridership, but the general public is still going to be using the mass transit system,” said Ralph Ng, a Moody’s Investors Service analyst.

Beyond the protests, the operator faces more difficulties. Kam and Auyeung took charge as part of a housecleaning effort following alleged safety violations caused by a contractor’s construction shortcuts on a long-delayed new line between Shatin, a suburb in the New Territories, and the Central district. A government investigation is ongoing and MTR is in discussions with authorities on a settlement, the company said in a July 18 statement. MTR in July set aside HK$2 billion ($256 million) to provide for costs associated with the Shatin-Central project.

Overseas, a Stockholm commuter train service that the company manages “will likely remain in a loss-making position for a few years,” MTR said in a mid-year report published on Sept. 4. A joint venture in the U.K. with FirstGroup Plc in 2017 began operating between London and southwestern England, but MTR announced in May a provision of 43 million pounds ($53 million) to cover potential losses.

Even with its diversification, MTR still depends on Hong Kong for about 60% of its revenue, so the turmoil at home will continue to weigh on its prospects.

“MTR’s profit faces serious risks amid escalating protests in Hong Kong,” Bloomberg Intelligence analysts Denise Wong and Patrick Wong wrote in a Sept. 2 report.

Until Lam’s government finds a way to end the crisis, protesters are likely to keep targeting the train operator.

“MTR is the easiest venue for people to revolt,” said Chau, the turnstile jumper. “Ninety percent of the population uses it.”

Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×