Western Canadian Ferries Losing Money
August 24, 2011 by UPI - United Press International, Inc.
VANCOUVER, British Columbia, Aug. 24 (UPI) — The provincially contracted British Columbia Ferries is losing money and wants to cut 400 sailings per year, the company said Wednesday.
At its annual meeting in Vancouver Wednesday, Chief Executive Officer David Hahn said BC Ferries lost $5.5 million in the first quarter as of the end of June, compared with earnings of $900,000 for the same period last year.
As a result, Hahn said he had filed a request with the provincial government to cut some 400 scheduled sailings in the off-season from major routes, the Victoria Times-Colonist said. A government response was expected next month, officials said.
Hahn said the cuts would not affect small mainland or island communities that are dependent on existing schedules, the report said.
The company is contracted to shuttle passengers and vehicles about 10,000 times per year, the Canadian Broadcasting Corp. said.
Last week, the company reported summer passenger traffic is at its lowest level in 20 years and vehicle traffic is at an 11-year-low, the report said.