NYC Ferry Exceeds Pre-Pandemic Ridership According to City Data

December 5, 2023 By admin Off

The NYC Ferry’s pandemic-era rebound continues, with the city’s Economic Development Corporation reporting 6.6 million riders in fiscal year 2023, up from 5.4 million passengers in fiscal year 2022. This is the first time ridership has stayed above pre-pandemic levels, with the 2019 fiscal year seeing 5.7 million riders. Ridership has continued to grow, with 6.5 million passengers in the 2023 calendar year to date. The ferry runs at a loss, but as ridership increases, so does farebox revenue. Revenue from fares came to $19.8 million in fiscal year 2023, up from $13.7 million the prior fiscal year. The uptick in revenue comes as operation expenses remain relatively stable, leading to the lowest rate of taxpayer subsidies to date — $8.55 per ride. The EDC renewed Hornblower’s contract this year, promising the firm up to $405 million to run the service for five years.