BC Ferries is projecting major financial losses this fiscal year, due to the drastic reduction in traffic during the first few months of the COVID-19 pandemic, and the lack of provincial or federal bailout funding. (Black Press Media file photo)

BC Ferries is projecting major financial losses this fiscal year, due to the drastic reduction in traffic during the first few months of the COVID-19 pandemic, and the lack of provincial or federal bailout funding. (Black Press Media file photo)

BC Ferries’ COVID-related financial woes compounded by lack of transit bailout funding

Minister of Transportation and Infrastructure Claire Trevena insists no fare increases on the way

Whether a provincial or federal government bailout of some kind comes to the financially troubled B.C. Ferry Corporation, the travelling public should not expect to pay increased fares to make up for its losses.

B.C. Minister of Transportation and Infrastructure Claire Trevena indicated as much Tuesday, in a discussion around the absence of federal emergency funding for BC Ferries and the devastating losses the corporation has sustained as a result of the COVID-19 pandemic.

ALSO READ: B.C. Ferries increasing passenger capacity after COVID-19 restrictions

When the NDP government changed the Coastal Ferry Act last year, she said, “we built public interest into the Act. And it is not in the public interest, at this time, to be looking at increasing fares … it will not help the people of B.C. and it will not help the economy of B.C.”

In the 2019 Speech from the Throne, a freeze on B.C. Ferries fare increases for major routes and discounts on minor and northern routes were extended to March 2020.

BC Ferries estimates its revenue losses since the pandemic largely shut down non-essential travel to be approximately $130 million and projects a $150-million net loss for 2020.

Due to its unsteady financial situation, the corporation is pausing major capital investments such as new vessels – excepting those already under construction – and upgrades to terminals. It is also taking on debt to help cover its projected losses.

Public transit systems were targeted for “a dedicated stream of funding” as part of the federal government’s $19-billion Safe Restart Agreement announced by Prime Minister Justin Trudeau on July 16. The agreement requires the provinces to outline how they will invest the federal funds, but BC Ferries has so far not qualified for either that funding or any provincial relief money.

Trevena said the corporation “has not asked for a bailout,” but did not explain why it was not included for help along with such organizations as BC Transit and Translink, which have also seen major ridership declines during the pandemic. Those two operations are slated to receive $560 million under the federal program, plus matching funding from the province.

ALSO READ: Multiple sailing waits expected on ferries on B.C. Day long weekend

Asked whether it appears any financial assistance for BC Ferries will come solely from the B.C. government, Trevena would only say the province is in regular talks with BC Ferries to “understand the extent of the problem.” A BC Ferries spokesperson added the corporation has been in talks with both levels of government for months to see if any other aid programs might be applicable.

Premier John Horgan has previously discussed the importance of the ferry system to B.C.’s economy with Deputy Prime Minister Chrystia Freeland, and Trevena said the province continues to work with the federal government on how it may access federal dollars for BC Ferries.


 

Do you have a story tip? Email:don.descoteau@blackpress.ca. Follow us on Instagram.  
Like us on Facebook and follow us on Twitter.

bc ferryCoronavirusProvincial GovernmentTourismTransportation

Just Posted

Victoria Police Department vehicles outside the headquarters building. VicPD (Black Press Media file photo)
Gorge Waterway’s muddy bank swamps man’s attempt to flee Victoria police

A wanted man got stuck in the Gorge Waterway while fleeing police on June 15

Flowers and candles were laid on the driveway of the Weber home, where Kerri Weber was found dead in November 2020. (Black Press Media file photo)
Langford man to stand trial for death of his wife last November

Ken Weber is charged with second-degree murder of his wife, Kerri Weber

Police dog Obi assisted in an arrest Tuesday night after a man reportedly damaged a Victoria restaurant with a large steel beam. (Courtesy of VicPD)
Police dog called in after Victoria restaurant damaged with steel beam

Suspect reportedly entered restaurant and started damaging walls

Cheyenne, six, Savannah, three, and Jeremiah Sinclair, 8, were out on walk with their mother on June 4 when they discovered the first of several hundred fish that died after bleach leaked into Reay Creek. (Wolf Depner/News Staff)
Spill in Sidney’s Reay Creek turns into ecological lesson for local children

Federal-provincial investigation ongoing into what appears to be a bleach spill

Defenceman Damon Agyeman guards his side of the rink while playing for the Medicine Hat Tigers. (Courtesy of RJF Productions)
UPDATE: Off-season WHL deals continue for retooling Victoria Royals

Defenceman Damon Agyeman acquired from Medicine Hat, Bentham era ends with hometown Royals

Maxwell Johnson is seen in Bella Bella, B.C., in an undated photo. The Indigenous man from British Columbia has filed complaints with the B.C. Human Rights Tribunal and the Canadian Human Rights Commission after he and his granddaughter were handcuffed when they tried to open a bank account. THE CANADIAN PRESS/HO-Heiltsuk Nation, Damien Gillis, *MANDATORY CREDIT*
VIDEO: Chiefs join human rights case of Indigenous man handcuffed by police in B.C. bank

Maxwell Johnson said he wants change, not just words, from Vancouver police

(Black Press Media file photo)
POLL: When was the last time you visited the mainland?

The films are again lighting the screens at local theatres, the wine… Continue reading

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of June 15

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Amy Kobelt and Tony Cruz have set their wedding date for February, hoping that more COVID-19 restrictions will have lifted. (The Macleans)
B.C. couples ‘gambling’ on whether COVID rules will let them dance at their wedding

Amy Kobelt and Tony Cruz pushed back their wedding in hopes of being able to celebrate it without the constraints of COVID-19

A plane is silhouetted as it takes off from Vancouver International Airport in Richmond, B.C., May 13, 2019. THE CANADIAN PRESS/Jonathan Hayward
Report calls for airlines to refund passengers for flights halted due to COVID-19

Conclusion: federal help should be on the condition airlines immediately refund Canadian travellers

Green party Leader Annamie Paul speaks during a news conference on Parliament Hill in Ottawa on Tuesday, June 15, 2021. Paul has survived another day of party strife after a planned ouster shifted course, leaving her with a tenuous grip on power ahead of a likely federal election this year. THE CANADIAN PRESS/Justin Tang
Green Leader Annamie Paul blasts ‘racist,’ ‘sexist’ party execs who sought ouster

Fallout has continued, with two of the federal council’s members resigning

Provincial health officer Dr. Bonnie Henry says re-opening B.C.’s border to the U.S. ‘is not in our best interest’ right now. (B.C. Government photo)
Provincial health officer Dr. Bonnie Henry (B.C. Government photo)
B.C. records 113 new COVID-19 cases Wednesday, four deaths

Vaccination of young people rising quickly, near 75 per cent

Russian President Vladimir Putin, left, and U.S President Joe Biden shake hands during their meeting at the ‘Villa la Grange’ in Geneva, Switzerland in Geneva, Switzerland, Wednesday, June 16, 2021. (AP Photo/Alexander Zemlianichenko, Pool)
Biden says meeting with Putin not a ‘kumbaya moment’

But U.S. president asserted Russian leader is interested in improved relations, averting a Cold War

Marine biologist Rick Harbo pulls a lid from the Ladysmith harbour, which he uses to monitor the presence of native and non-native species in the Ladysmith harbour. (Cole Schisler photo)
Unidentified sponge may be the latest marine species invading Island harbour

Marine biologist finding dozens of alien species in warm-water Ladysmith Harbour, none threatening

Most Read