(BC Ferries photo)

(BC Ferries photo)

BC Ferries sees net earnings of $90M in second quarter

Net earnings are down as a result of lowering fares, adding more sailings to meet customer demand according to report

BC Ferries garnered $315.8 million in revenue according to a new report from the passenger ferry operator, translating to net earnings of $90 million.

According to second quarter results in a press release, net earnings are down compared to the same period last year, a three-month term ending on Sept. 30.

RELATED: Debit now accepted onboard BC Ferries

The company said the decrease is the result of lowering fares and adding more sailings to meet customer demand.

“BC Ferries provided 288 (640 year-to-date) additional round trips compared to the same time last year throughout the system and adjusted the schedules for the routes operating out of Horseshoe Bay terminal,” said Mark Collins, president and CEO of BC Ferries.

RELATED: Former BC Ferries CFO paid almost $500,000 settlement

In April, a fare reduction of 15 per cent was put into effect on all but three Metro Vancouver to Vancouver Island routes. As well, the seniors’ passengers discount was increased from 50 to 100 per cent for weekday travel, excluding Fridays.

The initiative is part of a two-year plan funded by the province and BC Ferries.

RELATED: Changes coming to BC Ferries reservations for Vancouver Island routes

Additional sailings and the schedule adjustments required for them increased operating expenses by $13.9 million in the quarter. A new direct route between Port Hardy and Bella Coola also resulted in additional costs for labour, fuel and training.

BC Ferries plans to invest more than $3.9 million as part of its 12-Year Capital Plan, upgrading its fleet, utilizing alternative energy sources and overhauling terminals like the one at Swartz Bay.

RELATED: Ferry terminals to see improvements

“We are planning for a more resilient ferry service that takes into account the energy transition to a lower carbon future and that can address customers’ interests in the areas of reliability, affordability and choice,” Collins said. “In developing our plan, we recognize that decisions we make today must consider the way people will travel tomorrow.”


Like us on Facebook and follow us on Twitter

bc ferryBCFerries

Just Posted

Penticton Overdose Prevention Society co-founders Desiree Franz, Shane Surowski and Stephanie Lines have created the city’s first unsanctioned public overdose prevention site using an old wine-tour bus. The site began operations in June 2021. (Desiree Franz/Facebook)
Volunteers launch Penticton’s first public supervised injection site

2021 is on pace to be the deadliest year for overdoses in Penticton on record

Four golfers from Fairview Mountain Golf Club in Oliver will golf from sunrise to sunset to raise funds for ALS on June 29. (Submitted)
Golfing from sunrise to sunset in Oliver for ALS

Four golfers from Fairview Mountain Golf Club have taken up the challenge June 29

Jann Arden will embark on Canada-wide tour Spring 2022 with a stop in Penticton at the South Okanagan Events Centre on June 13. (Contributed)
Jann Arden coming to Penticton in 2022

The Jann Arden Live! tour has been rescheduled for 2022

A storm watch has been issued for the Okanagan, Kootenays and Columbia regions of B.C. (Calvin Dickson photo)
Another severe thunderstorm watch issued for the Okanagan

Conditions are favourable for thunderstorms that may produce strong wind gusts, hail and heavy rain

The South Okanagan Tim Hortons raised over $4,000 through the three day orange doughnut promotion with 100 per cent of proceeds going to to the Residential School Survivors Society. The owner of these locations matched the amount. (Monique Tamminga Western News)
South Okanagan Tim Hortons raises over $8K for residential school survivors

More than $4,000 worth of doughnuts were purchased over three days

Singer-songwriter Jann Arden is pictured with a draft horse. (Canadian Horse Defence Coalition)
Jann Arden backs petition to stop live horse export

June 14 is the International Day to End Live Export of Animals

(Dave Ogilvie photo)
One injured after being pinned by fallen forklift near Peachland

West Kelowna emergency crews responded to reports of a person stuck under a forklift

Kelowna-Lake Country MLA Norm Letnick, assistant deputy speaker at the B.C. legislature, presides over committee discussions. The legislature is completing its delayed spring session this week, with most MLAs participating by video conference. (Hansard TV)
B.C.’s daily COVID-19 infections dip below 100 over weekend

Only 68 new cases recorded Monday, four additional deaths

B.C. ambulance station in Revelstoke is expected to get a new system called the Scheduled On-Call (SOC) this fall. (Liam Harrap - Revelstoke Review)
B.C. ambulance changes could put Revelstoke residents at risk, warn local paramedics

Paramedics said to expect a substantial increase in ambulance response time starting this fall

This goose family went for a leisurely stroll down Vernon’s Main Street Saturday, April 25. (Dave Deshane photo)
Controversial Vernon goose cull won’t fly this year

Necessary permit procedures held up at a federal level

Mounties cover a burgundy truck with a tent at Buckerfields in West Kelowna on Monday, June 14. The RCMP is investigating after a woman’s body was found inside the truck. (Amandalina Letterio/Capital News)
West Kelowna RCMP investigating suspicious death after body found in truck

Police responded to a truck parked out front of a Main Street business where the body was found

The BC Ferries website went down for a short while Monday morning following a provincial announcement that recreational travel between health authorities can resume Tuesday. (Black Press Media file photo)
BC Ferries’ website crashes in wake of provincial reopening announcement

Website back up now, recreational travel between health regions to resume as of Tuesday

The Kamloops Indian Residential School is photographed using a drone in Kamloops, B.C., Monday, June, 14, 2021. The remains of 215 children were discovered buried near the former school earlier this month. THE CANADIAN PRESS/Jonathan Hayward
Communities grapple with what to do with former residential and day schools

Some tear them down as a tool to help healing, others repurpose them as tools for moving forward

FILE – Provincial health officer Dr. Bonnie Henry talks about B.C.’s plan to restart the province during a press conference at Legislature in Victoria, Tuesday, May 25, 2021. THE CANADIAN PRESS/Chad Hipolito
B.C. watching U.K.’s COVID struggles but don’t think province will see similar pitfalls

Studies show that one dose of vaccine is only 33 per cent effective in preventing B.1.617.2 spread

Most Read