A History Making Quarter for BC Ferries
BC Ferry coming into port. Supplied by BC Ferries Annual Report 2014-15.
The first quarter of the fiscal year saw BC Ferries record the highest passenger and vehicle traffic levels in the history of the company.
Net earnings were $12.2 million, more than double the numbers in the first quarter of 2018 and $26 million dollars worth of investments were put back into the system to help counter the 12-year Capital Plan, which is $3.9 billion dollars.
The transportation giant has reduced fares on the minor and northern routes by 15 percent and fares on the three Metro Vancouver-Vancouver Island routes were held constant, with no fee increases planned for 2020.
BC Ferries President and CEO Mark Collins said, “We need to replace half of our existing fleet in the next 15 years as we incorporate clean technology and increase capacity.”
The quarter represents results for the three-month period ending June 30.