
[via Toronto Star]
The TTC’s success has helped create a $17.4 million deficit. Ridership is running at a record high, projected to hit 473 million rides this year, without even a recessionary dent. But revenue per passenger is lower because more people are buying cheaper, transferable Metropasses – at a loss to the fare box of about 3 cents a ride. Sales of discount senior and student fares are up as well.
So your books are millions of dollars short because ridership is up and loyalty is higher through increased monthly passes? These $105 monthly passes are actually so popular that you’re relying on $2.75 single rides to keep you afloat because $105 isn’t enough money from the the hundreds of thousands of riders? Really? $105 a month from hundreds of thousands of people is giving you trouble ?
Montreal’s unlimited monthly pass for students (even university students can get one) is somewhere between $35-$50? And TTC doesn’t even have a university student rate…. riiiight. I’ll admit the TTC is better than STM, but $105 for a monthly pass is not a bargain, it’s nearing the maximum that riders would pay for monthly transit. Guessing their primary cost is wages, as some TTC drivers and ticket-takers are earning over $100K. Don’t get me wrong – they work hard, they take a lot of crap, and I believe that government is partially responsible for keeping the middle class stabilized. $100K is not middle class.
And here’s what blogto.com has to say about it, and my stuffy brain agrees:
I smell a fare hike and a broken promise. Or a bunch of other broken promises. The TTC is really short on funds and the transferable Metropass is being singled out as the main cause of lost revenue… which is happening despite record high ridership numbers. How can this happen? They’re building new stations, increasing service, hiring a bunch of new staff, and… selling more Metropasses than ever? What’s worse is that one bloated, unionized city entity is likely to eat up the savings made when another unionized city entity went on strike this summer (and eventually was given wage increases and kept their sick day banking).