This study proposes three mathematical programming models with distinct optimization objectives for transfer optimization in a bi-modal public transport network. To improve the applicability of the models and expedite the solution process, some acceleration techniques, including eliminating redundant constraints and incorporating valid inequalities, are suggested. The models and solution methods are applied to a small toy network and a real-life bi-modal public transport network. The results indicate that compared to the third model, the second model can reduce the total transfer waiting time by 12.29% to 30.31%, while the longest transfer waiting time may increase by 4.35% to 22.22%. Furthermore, the third model, which prioritizes minimizing the longest transfer waiting time, may increase the total or average transfer waiting time. The results suggest that decision-makers need to make a trade-off between reducing total passenger transfer waiting time (for efficiency) and reducing the longest passenger transfer waiting time (for fairness). .