Taiwan to cut bullet train services
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Taiwan’s loss-making high-speed rail company has announced plans to reduce its services, cut fares and impose pay cuts on executives in an effort to bring down costs.
ChannelNews Asia reported that from 16 March, Taiwan High Speed Rail Corporation will operate 816 trains weekly, down 13% from the current 942 trains while it will offer a 15% discount for weekday services.
The company has reportedly incurred a loss of TW$53 billion (US1.6 billion) since it began operating in 2007.
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