Good news for large urban transit in Canada

Statistics Canada is reporting a 5.3% y-o-y increase in transit ridership in October 2010. The fare box revenue, excluding subsidies rose to $232.7 million in October 2010, suggesting that the transit ridership increased mostly in 2010, which is consistent with a recovering economy.

Combined ridership and revenue levels for 10 of Canada's largest urban transit properties rose in October compared with October 2009.

These 10 companies represent about 80% of total urban transit across the country.

Ridership levels rose to 133.6 million passenger trips in October, a 2.5% increase from the same month a year earlier.

The rise in ridership pushed revenue (excluding subsidies), up 5.3% from October 2009 to $232.7 million in October.

The Daily, Wednesday, December 22, 2010. Large urban transit