Ferry between Nova Scotia, Maine could be viable in three years: CEO
Posted Sep 3, 2015 06:27:42 PM.
This article is more than 5 years old.
HALIFAX – The CEO of the ferry service that links Nova Scotia and Maine says it will take another three years before the service is financially viable.
Mark Amundsen told the legislature’s economic development committee today that Nova Star Cruises expects to meet the 80,000 passenger threshold to make the company viable within that time.
Amundsen says the service will need to be subsidized, but that it won’t need as much money next year.
However, he couldn’t say how much the ferry would need in 2016.
In its initial season last year, the ferry received $28.5 million in provincial subsidies.
The province committed $13 million for the service this year and has so far received $9.6 million of that amount.
