Government of Canada announces new financial agreement with CTMA Traversier Ltée

News Release

No. H050/05 For release April 5, 2005 GOVERNMENT OF CANADA ANNOUNCES NEW FINANCIAL AGREEMENT WITH CTMA TRAVERSIER LTÉE OTTAWA — Transport Minister Jean-C. Lapierre together with Lawrence MacAulay, M.P. (Cardigan), today announced that Transport Canada has reached an agreement in principle with the ferry company CTMA Traversier Ltée that will extend the company’s contribution agreement until 2010. This agreement will allow the ferry service to continue to operate throughout its full season from April to the end of January, between Souris, Prince Edward Island, and Cap-aux-Meules, Îles-de-la-Madeleine, Quebec. As a result of this new agreement, Transport Canada will provide CTMA Traversier Ltée with $3.2 million this year, with funding increasing each year until it reaches $3.6 million in 2009-2010. "As a proud Madelinot, I am pleased to announce this new contribution agreement which is great news for residents who rely on the ferry for regular travel, and tourists who visit the region," said Mr. Lapierre. "Local communities can now look forward to many more voyages aboard the MV Madeleine." "Ferry service is vital to communities along the coasts," said Mr. MacAulay. "Today’s financial agreement will help CTMA Traversier Ltée to continue to serve the people of these communities." The funding will cover operational and maintenance costs. Operating losses will be subject to discussions on measures to minimize and control these losses. Transport Canada will be responsible for undertaking capital investments and major repairs such as dry-docking and terminal repairs that were included in the previous contribution agreement. CTMA Traversier Ltée has been operating the ferry service since 1971. Transport Canada officials and CTMA Traversier Ltée representatives will finalise the details of this five-year agreement in the coming weeks. - 30 - Contacts: Irène Marcheterre Director of Communications Office of the Minister of Transport, Ottawa (613) 991-0700 Barry Hicken Constituency Assistant Office of the Honourable Lawrence MacAulay (902) 838-4139 Transport Canada is online at www.tc.gc.ca. Subscribe to news releases and speeches at apps.tc.gc.ca/listserv/ and keep up-to-date on the latest from Transport Canada. This news release may be made available in alternative formats for persons with visual disabilities.

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2016-12-15

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Government of Canada announces new financial agreement with CTMA Traversier Ltée

News Release

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