BC Ferries: Traffic, Revenue Up During 2nd Quarter

Image via BC Ferries.

BC Ferries’ traffic, revenue, net earnings and expenses were up over the three-month period that ended June 30, the agency announced Aug. 18.

During that time, according to company data, passenger traffic surged 74% and vehicle traffic rose 42% from the same time in 2021.

“This quarter marked the highest ever first quarter for vehicle traffic,” the agency said.

Meanwhile, revenues for the most recent quarter swelled to $35.7 million when compared from the same time last year due mainly to heightened traffic numbers and net retail sales and offset in part by lower applied Safe Restart Funding, the agency said.

Without the funding, BC Ferries reports a $93.2 million jump in revenue compared to the same time in 2021. The agency also reported $7.9 million in net earnings during the quarter, up from $4.7 million the year before.

Additionally, BC Ferries saw operating expenses during the quarter climb $31.3 million to $242.1 million this past quarter due to increased sailings, which meant higher labor and fuel costs.

“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.

By Karen Robes Meeks