A change in the cost structure involving the Gulf ferries means that Marine Atlantic will be able to keep rates as they are for the foreseeable.
The sole shareholder in the Crown corporation, the federal government, has long required the ferries to recoup at least 65 per cent of its expenses through fares, fees and sales. That requirement has been discontinued effective immediately.
Ottawa has given Marine Atlantic $17.6 million to cover costs for the rest of this fiscal year, and $40 million for the 2025-26 fiscal year.
The corporation says the new cost structure will enable it to hold fares as they are for the rest of this year and all of next.
Transportation Minister Pablo Rodriguez says the changes will provide customers with a safe, reliable and affordable service.