Lower ridership in 2016 likely to cost the TTC $46 million
Although your TTC rides have been packed and hot in 2016, overall ridership was significantly down.
As of the end of November, the TTC reports a “softening” ridership trend that is 2.7 per cent below budget.
The 2.7 per cent equates to approximately 15 million rides below the target of 553 million, resulting in a revenue shortfall of approximately $46 million, according to a TTC report by CEO Andy Byford.
TTC CEO Report , January 2017
“The negative results mirror the sluggish performance at various transit agencies in the Greater Toronto Area, Canada, and the U.S,” states the report. “The TTC’s current ridership trends are seen as mainly attributable to slower-than-anticipated employment growth, declining Metropass sales, and delayed achievement of new ridership from service enhancements.”
Although the ridership was 0.6 per cent above the 2015 numbers, the average weekly ridership in Toronto has been below budget for 20 of the past 21 months, according to the TTC.
The TTC board first reported the softening ridership trends in March of 2016.
Byford will be presenting his report to the board in a meeting on January 18.