Achi news desk-
A high-frequency rail project between Toronto and Quebec City is raising big questions about Via Rail’s future.
On track to begin operations in about a decade, the so-called HFR promises to transport more passengers faster, more frequently.
But the faster service also threatens to draw customers and cash away from Via Rail’s flagship service, which derives the vast majority of its revenue from Canada’s Central Corridor.
Through CEO Mario Flukin says the Crown corporation plans to discuss its funding model with the federal government in several years, but intends to maintain service in Ontario and Quebec, as well as its long-haul routes.
Last week, Via reported an operating loss that rose 8% year over year to $381.8 million in 2023, even as ridership continues to grow.
Péloquin is banking on more business travelers and fewer short-haul travelers to boost revenue as part of a five-year strategy to cut operating costs and replace the airline’s 75-year-old long-haul fleet.
— This report by The Canadian Press was first published on May 23, 2024.
