Link to article here. It seems the bad news just keeps comin’ for toll roads and toll operators. We’ve been warning for years that increasing the cost of transportation hurts the economy and the evidence is now EVERYWHERE. There’s only so much money in the family budget to devote to transportation before it takes away from necessities. Restaurants, clothiers, auto makers and many other industries are taking a hit due to high gas prices (and the subsequent rise in food prices). Now even toll road concessionaires that proponents have touted as bullet-proof because “people HAVE to get to work,” are taking a hit, too. We’re building an unsustainable transportation system with toll roads. Time to change course.
Cintra’s August traffic falls on main concessions
Thu. Sep 11, 2008MADRID, Sept 10 (Reuters) – Spanish toll road operator Cintra (CCIT.MC: Quote, Profile, Research, Stock Buzz) said on Thursday that traffic fell for nearly all of its main concessions in August.
On Canada’s 407-ETR road, traffic measured in daily journeys fell 4.8 percent in August from a year earlier, affected by the economic downturn and the fact there were two less working days in the month, the company said.
On the Indiana Toll road, traffic measured in daily journeys dropped 6.89 percent, and 6.66 percent on the Chicago Skyway, reflecting tariff increases and the economic slowdown in the United States.
Cintra’s Spanish motorways reflected the impact of the domestic economic slowdown, with traffic measured in daily journeys dropping 7.25 percent on its Ausol I concession from a year earlier and 4.67 percent for Ausol II. The only motorways to show rises in traffic were the Madrid-Levante and the M4-M6.
At 0952 GMT, Cintra shares were 0.89 percent lower at 7.78 euros, while the blue-chip IBEX-35 had lost 0.71 percent. (Reporting by Judy MacInnes; editing by Rory Channing)