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Rail News: Financials

Montreal transit agency unveils $1.5 billion budget

Societe de transport de Montreal (STM) officials late last week released the agency's $1.5 billion (in Canadian dollars) budget for 2016.

The budget is aimed at reaching a balance between customer experience, increased demand for service and sustainable fiscal management, STM officials said in a press release.

The agency plans to improve train frequency on the Orange and Green lines by adding more than 800,000 car-miles.

Additionally, fares will remain at their 2015 levels for the first six months of the year.

"This budget is a reflection of the strategic shift taken by the new executive team, in which improving the customer experience is a core priority," said STM Chair Philippe Schnobb. "From now on, two overriding concerns will guide the STM’s actions: planning service efficiently and reducing the deficit in asset maintenance."

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More News from 11/23/2015