According to the proposal, a trip between Hong Kong Station and the airport will cost HK$120, up from HK$110 currently.
Adult Octopus Card users using other stations will pay HK$5 to HK$10 more per journey.
Fares for children, meanwhile, will go up by HK$2.5 to HK$5.
In papers submitted to the legislature, the railway company said if approved, the increase is to be implemented in June, which would be the first hike in eight years and second since the line was launched in 1998.
The MTR Corporation said the number of passengers at the moment only reached 70 percent of pre-pandemic levels.
“The Airport Express has been facing sustained financial challenges since the Covid pandemic began in 2020, as it’s been running a loss,” it said.
The rail firm also said fares for express lines to and from the airport in major cities like London, Tokyo, Seoul and Sydney have risen by 13 to 38 percent in the past eight years.
The MTR Corporation announced last month that it’s freezing fares for other lines based on its fare-adjustment mechanism.
