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Jai Patel

๐Ÿ‘ค Speaker
137 total appearances

Appearances Over Time

Podcast Appearances

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

I'm good.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

How are you, Tim?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Thank you for having me.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

You know, we have a financial plan that's a five-year period.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And originally, we were projecting that we would see our subway ridership up to 90%.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

But a couple of years ago, we revised that because we weren't seeing that.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

But we're hopeful we see an 80% by 2029 ridership recovery for subways.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

But on the railroads, we're seeing that recovery even higher today.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

We see 85% ridership recovery on our railroads.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

which is amazing, something that we thought was going to be slower, our railroad customers than our subway customers originally coming out of pre-pandemic.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

So, you know, what we have is very small, predictable fare increases that help bus

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

balance the financial plan.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And so we don't want to burden one rider over another.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

It's really about distance-based and commuters.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

And so we keep that equitable.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

You know that we do a 2% fare increase every other year, and that keeps our financial plan in balance.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

We bring riders back by providing reliable on-time performance, right?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Our service matters to customers and delivering the service that we promise and schedule is something that we strive for, but also safety.

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

Our customers need to feel safe and our customers feel that, right?

Bloomberg Talks
MTA CFO Jai Patel Talks Ridership Recovery, Fare Evasion

We've had the lowest safety numbers or crime numbers in July.

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