In April 2018, B.C. Ferries plans to implement new fare initiatives. File photo

BC Ferries report net loss of $14.8 million in third quarter

CEO assures public it’s smooth sailing, advises of new ‘fare initiatives’

  • Feb. 23, 2018 4:00 p.m.

It costs a lot to keep BC Ferries afloat.

For the quarter ending Dec. 31, 2017, the marine transportation fleet marked a $14.8-million loss. It’s much larger than the $4-million loss the company posted during the same period last year, but BC Ferries management assures that it’s smooth sailing.

“With increased traffic, BC Ferries has had two strong years financially and the company is pleased to contribute to government’s fare initiatives,” B.C. Ferries’ President and CEO Mark Collins said in a statement.

“This will see a fare freeze on the major routes, a reduction in fares by 15 per cent on the minor and northern routes and the reinstatement of the full seniors’ passenger discount Monday through Thursday starting April 1, 2018.”

B.C. Ferries attributes this figure to new service enhancements and performing nearly 440 additional round trips, requiring more fuel, labour and training. B.C. Ferries experienced the highest levels of vehicle and passenger traffic in a third quarter since 2004.

In the last three months of 2017, 1.9 million vehicles and 4.6 million passengers boarded BC Ferries on 42,000 sailings.

anna.james@vicnews.com

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