NJ Transit lost $4M during FIFA World Cup. Its CEO says it's a win.
With FIFA, the agency recovered 93% of its costs.
NJ Transit lost nearly $4 million during the FIFA World Cup, but leadership says riders will not cover the difference.
President/CEO Kris Kolluri says running an event-day service to MetLife Stadium is far from profitable for the agency. For a typical event there, he says NJ Transit loses 85 cents on the dollar.
During the FIFA World Cup, the agency recovered 93% of its costs.
Kolluri said labor and equipment costs were millions lower than expected. This helped offset that NJ Transit sold about 60% of its capacity in ticket sales.
Another benefit to the agency - non-FIFA commuters largely stayed home on matchdays. That saved NJ Transit millions in fare discounts and cross-honoring tickets with PATH.
As for that $4 million gap, Kolluri pledged riders will not pick up the slack.
“It’s not just a commitment. We put it in writing, and we will stand by it," Kolluri said. We are going to do it internally, based on real estate sales, leasing or outright sales.”
Events at MetLife since FIFA have followed a similar approach, now requiring wristbands from Secaucus Junction to get on the train. Those that didn't take the train in but would like to use it to return home now must buy a $5 ticket on-site, plus the trip back home from Secaucus.
