Tracilyn Jones offers pamphlets and information on the monorail to passers-by outside The Mirage on Friday. She is one of 20 "Monorail Ambassadors" trying to lure riders. Photo by Ronda Churchill. Click image for enlargement.

Last month's introduction of sexy Las Vegas Monorail greeters has failed to increase ridership numbers on the rapid transit line.

In October, 18,710 people a day rode the monorail, the fifth straight month the rail system failed to top the 20,000 daily rider mark on a line once expected to draw 50,000 passengers each day.

That flat ridership came as the monorail debuted 20 "Monorail Ambassadors," described as "attractive and knowledgeable ... vivacious showgirls" who are "outfitted in classic costumes reminiscent of old-time Vegas cocktail hostesses," according to the monorail's Web site.

"Found in some of the most highly trafficked areas of Las Vegas Boulevard, this elite group of ladies is busy spreading the word about the Las Vegas Monorail and Sprint Central," the office/retail/VIP center at the Las Vegas Convention Center monorail station operated by Sprint, the wireless communications company.

Sprint is paying for the part-time greeters, who roam common areas of Caesars Palace, The Venetian, The Mirage and Harrah's Las Vegas during daytime hours Thursday through Monday.

Their duties include pointing tourists to the monorail, offering rail commuting tips, posing for pictures and distributing a free monorail magazine.

In recent months, monorail officials have said they're launching or planning a number of marketing plans -- including bulk ticket purchase agreements with conventions, and ticket distribution through hotel check-in desks -- in hopes of spurring ridership numbers.

But those officials have said they don't expect such initiatives to show results in the form of busier turnstiles until well into 2007.

Monorail ridership has suffered a steep drop-off since January, when the base one-way fare was raised to $5, from $3.

October ridership was down 35 percent from the same month in 2005 and fell about 1 percent from September.

But the fare increase meant the monorail saw daily farebox revenue grow by 2 percent last month, to $86,060, from October of 2005.

That's still well short of the estimated $123,000-plus a day the monorail needs from passengers to break even.

The privately financed, $650 million line behind the Strip's east side has failed to generate a profit since first opening to the public in mid-2004, causing its credit rating to fall into "junk" bond status.

Fitch Ratings, a New York City-based credit rating firm, last month reported that "default is a real possibility" as soon as 2008 if the monorail can't generate more revenue.

The monorail is currently dipping into $89 million in cash reserves to make up its revenue gaps.

Also this month, another ratings firm, Moody's Investors Service, reiterated the monorail's precarious financial footing by downgrading the monorail's rating further into "junk" status, The Associated Press reported.

Moody's analysts believe the monorail could run out of cash by 2010, absent a virtual doubling of daily farebox revenue.

Monorail officials said they are re-examining their business plan and are confident they'll be able to show improved finances in 2007.

If the monorail does go bankrupt, taxpayers are not on the hook to cover any losses.

An insurance policy covers most of the bonds used to pay for the system's construction, and private bondholders would be left holding the bag for any other shortfalls in bond repayments.

Monorail officials have said they're moving forward with a planned expansion of the four-mile rail line to the Strip's west side and to McCarran International Airport, though it's not yet clear how they would pay for the $1 billion-plus in proposed improvements.