BC Ferries Carries More Vehicles Across BC’s Waters in 2023 Fiscal Year Than Ever Before, Still Sees $1.8 Million Net Loss

BC Ferries vessels carried more vehicles across BC’s waters in their 2023 fiscal year than ever before, according to their year-end report.

In total, 9.4 million vehicles were shuttled by ferries over nearly 87,000 round trips between last April and the fiscal year ending on March 31st.

But, despite seeing increases in both revenue and traffic, the company still saw a net loss of $1.8 million over the year.

That compares to net earnings of $34.1 million last year, though that was owing to $102 million in Covid Safe Restart Grant funding.

In March, BC Ferries pitched a 12 year, $5.2 billion capital plan, centered around replacing ageing vessels.

It came alongside a proposal to cap fare increases at 9.2 percent annually over the next 4 years.

But, that has yet to factor in a $500 million provincial funding boost, intended to keep annual fare increases below 3 percent.