In deficit, the STM launches a cry from the heart
Faced with a significant shortfall and a precarious situation, the Société de transport de Montréal (STM) is sending out a cry from the heart “to all the institutions” in order to find a solution.
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“During the pandemic, we experienced an incredible crisis; a drastic and dramatic fall in income,” explained Éric Alan Caldwell, chairman of the board of directors of the STM, on Friday.
This was expressed within the framework of the commission on finance and administration at the City, during which the various municipal services presented their results throughout the week.
Faced with the shortfall anticipated for the next year, the STM plans in particular to postpone the start of maintenance work on the Azur cars by one year, as well as to extend the reductions in services undertaken in 2021 for the next year. will save $12 million and $25 million respectively.
Last year, faced with a marked drop in ridership, the STM reduced its services by 5% for the metro and 3.5% for buses.
“There will be no impact for customers,” however, assures the director general of the STM, Luc Tremblay.
Nevertheless, despite these proposed measures, the STM still foresees a deficit of $43 million. A problematic situation for which it challenges “all the institutions”.
“Transport companies cannot run a deficit. So we are condemned to find a solution, ”revealed Mr. Caldwell.
In the long term, he believes that new sources of financing should be considered, at a time when “financing structures are not adapted to the evolution of expenditure.”