WAIHEKE ISLAND, STANLEY BAY AND DEVONPORT FERRY FARES INCREASE FOR FIRST TIME IN TWO YEARS

Media Release – August 13, 2008

Due to increasing operating costs, Fullers have today announced its first fare increase since April 2006.

The fare change applies only to Waiheke Island, Stanley Bay and Devonport ferry fares. It is effective from 1 September.

“It is a regrettable commercial reality that the price of our fares needs to reflect rising operational costs, such as the cost of fuel and maintenance,” says Douglas Hudson, CEO Fullers Group Ltd.

“In the last two years the cost of running these services has increased significantly. We have seen the cost of fuel increase by over 70 per cent in the last year alone. Labour and maintenance costs have also increased over the same period.”

“To date, we have held off passing on these costs on our commercial routes. This is no longer sustainable. We are now reluctantly faced with having to increase our fares to balance the rising costs involved with operating these services.”

Fares on the Waiheke Island ferry will increase by an average of 12.7 per cent. Stanley Bay and Devonport ferry fares will increase by an average of 9.8 per cent.

This does not impact other Fullers ferries services which are contracted by ARTA. We understand ARTA will be reviewing the cost of public transport in upcoming months.

For more information, customers should go to www.fullers.co.nz or pick up a flyer available on board or at ticket offices.

“We understand this will be disappointing for our customers. I'd like to take this opportunity to thank our customers for their understanding and continued patronage,” says Mr Hudson.

A comprehensive customer awareness plan will commence on Wednesday, 13 August.

ENDS -

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