VICTORIA — BC Ferries is looking to cut as many as 400 sailing because of declining traffic and rising financial losses.
The company says it lost $5.5 million in the first quarter of the year as vehicle traffic fell by 3.3 per cent, an 11-year low, and passenger volumes tumbled almost three per cent, a 20-year low.
Ferries President David Hahn says the company had expected a net loss for the fiscal year of about $20 million, but it could be double that because of dwindling traffic volumes.
As a result, he’s asking the government for permission to cut up to 400 sailings on the major routes, saying it makes no sense to have some ships sailing with just 20 per cent occupancy.
He says the company will also be cutting capital spending and there may be some staff reductions.
In May, the B.C. government brought in legislation to cap fare increases on BC Ferries to four per cent next year and block the company from reducing service until a review of fares is completed.