TTC fares could go up in 2010 as the transit service deals with a revenue shortfall this year.
Even though ridership is up, more people are buying cheaper transferable Metropasses instead of paying full fares for each ride.
The TTC is projecting a record "470 million plus" rides this year, according to the Toronto Star. But using the cheaper, transferrable pass is resulting in a loss of three cents a ride for the TTC, leaving them with a $17.4 million deficit, according to the newspaper.
TTC chair Adam Giambrone says it’s too early to think about a fare hike, but Toronto budget chief Shelley Carroll says it’s a real possibility.
Giambrone told the newspaper that the TTC needs an additional $80 million from the city in 2010 to help prevent a fare hike.
