CBC News, BC Ferries losses rise as passengers dwindle:
B.C. Ferries says passenger levels are dropping to 20-year lows and the corporation is predicting it will lose more than expected this year.
The number of people riding the ferries is down 3.7 per cent from 2010, and the number of vehicles has fallen 4.2 per cent from the previous year – the lowest level in 11 years — ferry officials have confirmed.
The 2011/10 annual report issued in March forecast that the ferry company would lose about $20 million at the end of the current fiscal year.
Just one month ago, the Ferry Corp. reminded all that,
Queen of Quathiaski Cove
…the Board re-negotiated Mr. Hahn’s employment contract to 2013 including increases to performance based compensation and pension entitlements to reflect this progress to date in renewing and re-structuring the corporation. . .
BC Ferries is now a world leader in ferry transportation and more improvements are on the way. Mr. Hahn and his management associates are developing alternative vessels for shorter coastal routes. These employ fuel efficient propulsion systems that cause no prop wash damages and operate quietly, meaning customers will better enjoy the natural landscape.
Categories: BC Ferries