BC Ferries Third Quarter Results

By 24 February 20232023 Newsletter week 8
February 24, 2023

In the three months ending 31 December 2022, BC Ferries reported that compared to the same period in 2021;

  • 5 million Passengers and 2.0 million vehicles travelled, an increase of 10% and 3%, respectively.
  • Revenue, inclusive of Safe Restart Funding, was $234.8 million, an increase of $12.6 million.
  • Net loss was $22.7 million, compared to a net loss of $1.6 million, primarily as a result of less Safe Restart Funding being applied in the quarter and higher operating costs.
  • Operating expenses were $245.2 million compared to $209.5 million. This increase is mainly due to an increased number of sailings, with corresponding higher labour costs, as well as higher fuel prices and maintenance expenses.