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[QUOTE]Originally posted by Gilbert B Norman: [QB] To my pleasant surprise, as part of the Indenture relating to the $600M Private Activity Bonds floated, AAF is required to disclose revenue and ridership for each Quarter. They released such for the First Quarter this past Friday - and look who reported them (presumably straight): [URL=https://www.google.com/amp/s/amp.tcpalm.com/amp/745477002]Gannett Treasure Coast Newspapers[/URL] Fair Use: [i][list] [*]..Brightline carried 74,780 riders and collected $663,700 in ticket revenue in its first 2˝ months of operation, according to financial documents released Friday. The documents — which offered one of the first public glimpses into the private company's financials — revealed that ridership "exceeded expectations," according to Brightline, despite recent controversies over safety and use of public funding. Ridership grew each month as a result of increased “awareness and demand for the company’s service," Brightline said in its quarterly unaudited financial statement provided to the Municipal Securities Rulemaking Board. Month-by-month ridership and revenue from Jan 19, when initial service began between West Palm Beach and Fort Lauderdale, to March 31, the end of the first quarter, was: January: 17,800 passengers, $146,500 February: 24,100 passengers, $220,000 March: 32,900 passengers, $297,300 [/i] [/list] However, lest we forget, AAF is still offering dirt cheap "introductory fares". I highly doubt if they have compiled enough historical data to institute demand pricing, although I'm sure they want to "get there". So their first venture into "market pricing" will be "like the old days". "Here's the fare; take it or leave it" (my guess: OW MIA-WP $50 Coach, $65 Business). Who knows what effect that will have on ridership. Continuing with a "lest we wonder"; the Florida Turnpike will soon switch to demand pricing systemwide. The "Lexus Lanes" on the 95 are already there (BTW, this Lexus owner doesn't go near them - oh, and don't the various Authorities love EZ-Pass; especially when signed up for automatic refills), so the market can certainly justify higher fares. Finally though, a rub. The free parking at the AAF station garages is now $6/da, but that certainly is a dirt cheap rate. How they control that you actually have ridden a train, I know not - but I think they should. [/QB][/QUOTE]
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