The gross operating cost of the five new and enhanced express routes in 2016 is $4.2 million ($5.7 million annually). The express routes are expected to attract approximately 400,000 new customers in 2016 (1.1 million new customers annually when ridership fully matures in subsequent years). The fare revenue for the express routes is estimated to be $800,000 in 2016 ($2.3 million annually when ridership fully matures). Therefore, the net operating cost of implementing the new and enhanced express routes in 2016 is $3.4 million ($3.4 million annually) which is included in the TTC’s base 2016 Operating Budget approved by the TTC Board on November 23, 2015 and will be considered by City Council on February 17 and 18, 2016.
The 12 buses required to operate this service were acquired in 2015 and, therefore, there are no additional capital costs for this new service.