BC Ferries reports busiest-ever spring for vehicle traffic, despite cancellations
BC Ferries vessels carried more vehicles between April 1 and June 30 of this year than during any other first quarter in the company's history, according to financial results announced Thursday.
The first-quarter results show revenue, net earnings and spending are also up this year as a 74 per cent increase in vehicle traffic and a 42 per cent increase in foot traffic over last year have returned the ferry service to pre-pandemic levels.
"We are emerging from the pandemic grateful to the federal and provincial governments for pandemic relief funding, and to BC Ferries’ employees for their commitment to put safety first, operate in the public interest, and ensure ferry travel is as reliable as possible," BC Ferries interim president and CEO Jill Sharland said in a news release accompanying the quarterly results.
Revenues at the ferry company rose by $35.7 million over the same period in 2021, largely due to higher traffic volumes. Net earnings increased from $4.7 million in the first quarter of 2021 to $7.9 million this year.
The company's operating expenses for the first quarter of this year were $242.1 million, an increase of $31.3 million compared to the same period last year, the ferry service said.
The spending increase was attributed to an increase in sailings, which drove higher labour and fuel consumption costs at a time when fuel prices were rising globally.
The company acknowledged that crew shortages and cancelled sailings remain a challenge for the ferry service and the travellers who rely on it.
"The company apologizes to its customers for these service interruptions and continues to take all reasonable steps to reduce the impact to the travelling public," the company said.
CTVNews.ca Top Stories
Trend Line Anger, pessimism towards federal government reach six-year high: Nanos survey
Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.
Lack of detention space could force CBSA to release detainees, internal memo warns
The Canada Border Security Agency is scrambling to find space to hold high-risk detainees that are set to be transferred from provincial jails in June.
BREAKING Allman Brothers Band co-founder and legendary guitarist Dickey Betts dies at 80
Guitar legend Dickey Betts, who co-founded the Allman Brothers Band and wrote their biggest hit, 'Ramblin' Man,' has died. He was 80.
BREAKING Police make arrests in grandparent scam that defrauded victims out of $739K
Ontario Provincial Police say they have 'disrupted' an organized crime group that allegedly used an emergency grandparent scam to defraud seniors across Canada out of hundreds of thousands of dollars.
Motion to allow keffiyehs at Ontario legislature fails
A motion to reverse a ban on the keffiyeh within Queen’s Park failed to receive unanimous consent Thursday just moments after Ontario Premier Doug Ford reiterated his view that prohibiting the garment in the House is divisive.
B.C. child killer's lawyer walks out of review hearing
The lawyer representing child-killer Allan Schoenborn walked out of his client's annual review hearing Wednesday – abruptly ending proceedings marked by tense exchanges and several outbursts.
How to avoid the trap of becoming 'house poor'
The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs. Liew offers some practical strategies to maintain better financial health while owning a home.
Calgary man charged with manslaughter in death of toddler
Calgary police say Winston Campbell, 45, has been charged in the death of a two-year-old girl in 2022.
'Wild, wild west.' Families say organs of deceased Alabama inmates have been removed without their consent
The state Department of Corrections and the University of Alabama at Birmingham face disturbing allegations from the families of five inmates whose organs were removed and reportedly kept without consent, according to a series of lawsuits.