The CEO of BC Ferries has said fares may need to increase 30 percent or more to keep up with costs.
Nicolas Jimenez said in a written statement that BC Ferries has been seeing prices rise and is struggling with operational costs, which could require the company to increase fare prices.
Jimenez said the 30 percent price rise was forecasted last year to keep up with operating and capital costs. However, BC Ferries has seen a further increase in costs with a 40 percent increase in shipbuilding expenses since 2020.
The rising costs have led to a funding gap, he said, adding it would need a sustainable funding model to fix….