The CEO of BC Ferries is warning the company may need to increase fares by 30 per cent or more in 2028, when the current fare structure expires.
Nicolas Jimenez says in a written statement the corporation had forecast last year that such a price rise would be needed to keep up with operating and capital costs, but costs since then have spiked, including a 40 per cent jump in shipbuilding expenses.
The province had said that without the additional funding, the fare increase would have been about 9.2 per cent per year over the same period. "Our customers have been clear in their expectations for a seamless, integrated transportation experience, and the pressing need to replace aging assets requires further investment beyond what the current model allows for."
"Any agreement and discussion going forward about how we can support them needs to have two parts. One is ensuring we're protecting British Columbians, and the other is reassurance to British Columbians that BC Ferries is operating as efficiently as possible, bringing down costs wherever possible."
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