February 28, 2019
BC Ferries: Highest Number Of Vehicles Ever
BC Ferries released its third quarter results today for the fiscal year ending March 31, 2019.
- Net loss CAD 3.7 million (14.8)
- Average of 466 sailings per day
- +1.7% passengers = 4.7 million (highest in 20 years)
- +2.6% vehicles = 2.0 million (highest ever)
Due to the seasonality of ferry travel, BC Ferries generates higher net earnings in the first and second quarters – the spring and summer months – which are typically reduced by net losses in the third and fourth quarters, when fewer discretionary customers are travelling.
Last fall, BC Ferries submitted a 12-Year Capital Plan, which details plans to invest more than $3.9 billion. This will be the largest capital plan in BC Ferries’ history. The capital plan emphasizes more system capacity, operational efficiency, resiliency and travel certainty.