Calgary-to-Banff may work without annual provincial subsidies
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The lead private-sector proponent of a proposed $1.5 billion Calgary-to-Banff passenger train says updated ridership projections show it could be a success without annual subsidies from the Alberta government.
Liricon Capital says a new ridership forecast shows the train could carry 11 million passengers per year by 2035 – five times more than originally projected when it said the service would need government funding of $30 million a year to cover the mortgage.
But it says those projections depend on Parks Canada enacting policies aimed at encouraging the adoption of mass transit by visitors to Banff National Park.
The owner of the Mount Norquay ski resort as well as the long-term lease for the Banff train station says those policies could range from increasing park entry fees for private vehicles to expanding bus and shuttle service between park attractions.
