The Société de transport de Montréal (STM) is strapped for money and planning to chop again on providers because of this. The transit company launched its 2023 finances displaying a $77.7M deficit and citing inflation and pandemic restoration as main shortfall drivers.
Some bills have been pushed to 2022 to cowl emergency measures through the onset of COVID-19, across the time that expensive however essential upkeep initiatives started on AZUR trains.
“Our goal is to maintain a level of service similar to 2022 but to do this we must have additional means that allow us to achieve that ambition,” said STM Director General Marie-Claude Léonard.
“Constructive discussions” are underway between the STM and monetary companions to establish options. In the meantime, there are plans to scale back practice and bus frequency in early 2023.
Paratransit will proceed unhindered. In reality, there can be 3.4 million extra journeys in 2023 — a 16% improve in comparison with 2022 — given the “critical importance” of the service.
The STM plans to speculate $10B into infrastructure upkeep over the following 5 years (in comparison with $8.1 billion over the previous decade). That will embody the electrification of the bus community, together with the completion of the blue line extension. Elevator set up initiatives at inaccessible metro stations will even transfer forward.
“We’re focussing on value-added investments that will bring short-term benefits for current customers and dividends for future generations. We recognize the importance of public transit in the fight against climate change and must act now,” mentioned Éric Alan Caldwell, chairman of the STM’s Board of Directors.
So far, there was no point out of elevating ticket costs to make up for the finances deficit.
