B.C. Ferries is loosening some restrictions and increasing capacity as summer travel within the province grows.
Passenger numbers have risen to about 70 per cent of what they were at this time last year, said Tessa Humphries, communications manager for B.C. Ferries. In the early days of the pandemic, they were about 20 per cent of normal.
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Passenger capacity had been capped at 50 per cent, but that restriction is being phased out to increase service, Humphries said.
That level was set by Transport Canada, which gave operators a choice between limiting capacity and implementing enhanced cleaning and physical- distancing measures.
Humphries said B.C. Ferries implemented both measures at first but has now decided to phase out the capacity limit. B.C. Ferries consulted with Transport Canada on the change, she said.
Enhanced physical-distancing and cleaning protocols, including clear plastic barriers and face- coverings, remain in place. Passengers are asked whether they’re experiencing COVID-19 symptoms prior to travel, and those in vehicles are allowed to remain inside their cars.
More than 300 sailings per month have been added on major routes between the Island and the Lower Mainland since the start of June. The company is aiming to keep capacity about 20 per cent above demand, Humphries said.
“We will have fewer sailings than in summer schedules of the past, but significantly more than what was available as a result of the service cuts in April,” she said.
The company has also added an additional vessel on the route between Departure Bay and Horseshoe Bay on Fridays and Sundays, and a second vessel on the route that services the southern Gulf Islands on Thursdays through Mondays.
“We did also hear from the communities that there was a struggle for capacity there,” Humphries said, adding that it wasn’t uncommon for sailings on Gulf Islands route to be completely booked.
Passengers travelling by car are encouraged to book in advance or choose less busy times to travel.
Humphries said B.C. Ferries expects it will take a couple of years before passenger numbers return to pre-pandemic levels.
Onboard food services have resumed on some minor routes, including between Swartz Bay and the Gulf Islands, and the Passages gift shop reopened Friday on sailings between Swartz Bay and Tsawwassen. Packaged food and limited hot food resumed on three major routes between the Island and the Lower Mainland in June.
The Lands End Café in the Swartz Bay terminal also recently reopened. Markets in the Departure Bay and Tsawwassen terminals reopened in late June.
The drop in ferry traffic has cost B.C. Ferries millions of dollars in lost revenue.
Humphries said the company is evaluating the financial situation daily and reopening onboard amenities will provide another revenue stream.
“But we’re all doing all of that carefully and gradually, as well as safely reintroducing these services,” she said.
CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.
Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.
TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.
The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 7, 2024.
BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.
The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.
On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.
“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.
“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”
Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.
BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.
The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.
BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.
It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.
The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”
Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.
This report by The Canadian Press was first published Nov. 7, 2024.
TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.
The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.
Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.
On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.
In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.
It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.
This report by The Canadian Press was first published Nov. 7, 2024.
