(AFP) A high-speed railway linking Kuala Lumpur and the international airport is on track for opening in April but its revenue forecast has been slashed amid an economic downturn, reports said today.

Express Rail Link Sdn Bhd (ERL) slashed its forecast by RM2 billion over a 29-year period, executive chairman Mohamad Nadzmi Mohamad Salleh was quoted as saying by The Star.

"We have to be realistic with our ridership projection for the first few years in view of the economic situation and the termination of services by some international airlines into KLIA," Nadzmi said.

Four airlines - Aeroflot, British Airways, Qantas and Lufthansa - have scrapped flights to the Kuala Lumpur International Airport (KLIA) for commercial reasons since it opened in June 1998.

US slowdown

Malaysia is also feeling the effects of the US slowdown and has revised downwards its economic growth forecast this year to 5-6 percent.

Nadzmi declined to reveal actual revenue target but said ERL expects to capture one-fifth of passenger arrivals at the KLIA, located some 60 kilometres south of Kuala Lumpur.

He said 86 percent of the RM2.4 billion project had been completed, and the company aims to commence commercial services by April 19 next year.

The new railway will link the airport, which is currently served only by buses and taxis, with a huge suburban development called KL Sentral planned as an air, rail and road transportation hub.

The fare costs 35 ringgit a person, and takes about 28 minutes, the daily said. Passengers can check-in their luggage at the KL Sentral, get their boarding passes before hopping on the train to KLIA.

The company has said it hopes to list ERL two years after commercial operations begin, if stock market conditions are good. It has also expressed interest to extend the railway to Singapore.