Vancouver Island and coastal residents were buzzing yesterday with the announcement that B.C. Ferries will increase its already sky-high fares by another 12 per cent over the coming three years.
To take a family of four, in a car, from the Mainland to Victoria will cost $107.22 one-way. That makes visiting the Island a $215 roundtrip—plus gas.
When new CEO Mike Corrigan was hired (replacing the controversial Million Dollar Man David Hahn), we knew he had a tough challenge ahead of him. Hahn took B.C. Ferries from a $49.9 million profit in 2006 to a $20 million loss in 2011 while increasing his annual pay from $228,239 to $1.2 million. More scary financial details here.
Now B.C. Ferries—and farepayers and taxpayers—are reaping the bad fruit of Hahn’s decision to change the corporation from a people and goods mover to a boutique tourism shop. Ridership is way down and a price hike isn’t going to help that—the tipping point is long behind us, and Vancouver Island has never seem more isolated.
Is Canada Off Track?
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