|Lower traffic levels has brought lower revenues for
BC Ferries which released its second quarter financial review today
BC Ferries has released their second quarter fiscal results for the period of July and September and the data continues to highlight the impact that COVID has had on travel in the province and on the BC Ferry system in particular.
The financial date provided today noted that BC Ferries’ net earnings for the second quarter of fiscal 2021 were $37.8 million, $57.2 million lower than the same quarter of the previous year. Year-to-date, since April 1, 2020, net losses were $24.2 million, compared to net earnings of $107.2 million in the same period in the prior year, a decline of $131.4 million.
Things continued to show concerning results when it comes to revenue, with totals for the quarter listed at $247.6 million as of September 30th, down $81.7 million year-over-year.
Revenue for the six months ended September 30, 2020 was $385.0 million, down $190.7 million over the same period in the prior year.
The financial review gave BC Ferries' President and CEO Mark Collins to make note of the 'new normal' while praising the work of the employees during the course of the pandemic period.“COVID-19 continues to have a significant impact on the ferry system as we navigate through what is now the new normal with our employees, our customers and all British Columbians. Throughout the pandemic, our employees continue to provide lifeline service to coastal communities and I want to recognize their dedication and perseverance, which has been nothing short of inspiring.”