Montreal

Montreal's Bixi service records surplus for first time

After the city rescued it from bankruptcy last year, the bike-sharing program announced a surplus of $818, 275 during eight months of operation in 2014.

Bike-sharing program filed for bankruptcy last year

Bixi was launched in Montreal in 2009 and despite financial troubles, became a model for bike-sharing around the world. (Luc Lavigne/Radio-Canada)

​Bixi has recorded a surplus.

After the city helped it out of bankruptcy last year, the bike-sharing program announced today a surplus of $818,275 during eight months of operation in 2014.

Of that money, $460,000 will go toward repaying a loan for the trucks used to shuttle the bicycles, while the $165,326 startup subsidy will be returned to the city.

Last March, Montreal Mayor Denis Coderre announced what he called a "big pilot project," handing Bixi a $4.3-million contract to run the service.

Marie Elaine Farley. president of Bixi's administrative board, said the results show the service has taken steps toward restructuring and cutting costs.

Bixi also said it hit its target of 1,000 new members for 2015 even before the season began. As of May 31, Bixi had 6,049 new members this year.

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