COVID-19 Impacted BC Ferries, Year-End Results Show

Image via BC Ferries.

Traffic and revenue were up from the previous fiscal year for BC Ferries, but down from pre-COVID-19 pandemic levels, according to the British Columbia transportation agency, which released its year-end FY results Friday, June 24.

For the 2022 fiscal year ending March 31, 37% more passengers (17.9 million) and 26% more vehicles (8.5 million) rode BC Ferries than the year before. However, passenger traffic was down 20% and vehicle traffic down 5% compared to the pre-pandemic 2019 fiscal year.

Revenue was up 12% to $965.4 million, a $100.1 million increase, from the previous year due to higher traffic and net retail sales, which were helped in part by lower Safe Restart Funding, a federal effort to aid provinces and territories reignite their economies, BC Ferries data show.

However, BC Ferries saw a net loss of $68.2 million before recognizing Safe Restart Funding.

“As we emerge from the pandemic, we are grateful to our employees for their commitment to put safety first, operate in the public interest, and ensure reliable ferry travel,” BC Ferries’ President and CEO Mark Collins said. “We are excited to see people (traveling) with us again and are adding staff to meet the increase in demand for our service.”

By Pacific Maritime Magazine