BC Ferries experiencing record levels of Passenger and Vehicle Traffic

BC Ferries announced record traffic levels in a release of its first quarter results today.

According to the release, recent passenger traffic levels were the highest BC Ferries has experienced in the past 20 years and vehicle traffic levels were the highest the company has ever experienced as compared to the same quarter in prior years.

“This first quarter has been very busy for our company as we carried historically high
volumes and focused on improving the customer experience,” said Mark Collins, BC Ferries’
President and CEO.

“We have added additional sailings, provided numerous fare discount
opportunities and introduced efficient new vessels with modern customer amenities onboard.”

By The Numbers:

• Increases compared to the same quarter a year ago:
  • Passenger traffic increased 3.8 per cent
  • Vehicle traffic increased 4.4 per cent
• Revenues increased by 3.1 per cent to $225.9 million primarily as a result of the increased traffic volumes
• Average tariff revenue per passenger remained unchanged and the average tariff revenue per vehicle decreased on the major routes
• Operating expenses increased by 8.8 per cent to $194.4 million,
• Net earnings for the three-month quarter (ended June 30, 2017) were $17.3 million, compared to net earnings of $27.0 million in the first quarter of the previous year

“Our net earnings have decreased compared to first quarter last year as BC Ferries invests in this improved customer experience,” said Collins.

“We have held ticket prices stable, absorbed increased operating costs due to higher traffic and delivered additional capacity to customers.”