What is the real reason that the Hawaii Superferry is leaving?‏

The following is an accurate compilation by DM on Maui based on information in the following Christie Wilson article:

What is the real reason that the Hawaii Superferry is leaving?

It would seem that the real reason that the Hawaii Superferry company is stopping operations is that their financial model is NOT working. They seem to be using the Supreme Court decision as an excuse... The failure to attract enough passengers/vehicles, even with severely discounted fares, seems to be the real rationale for the HSF withdrawal from the Hawaii inter-island market. The investors [may be] thankful that they have been given an excuse to immediately cease operations.

The Superferry Company claimed to the PUC that it would have a capacity for 866 passengers (50% break-even would be 433), and a capacity to carry 282 vehicles (50% break-even would be 141). If it is NOT attracting enough passengers and vehicles, it will be unable to cover its expenses.

It was claimed by Hawaii Superferry Company that their financial break-even point was to be able to travel at 50% of vessel capacity. The financial break-even assumed higher ticket prices (rather than the discounted fares now being offered), and it required a "fuel- adjustment surcharge" that is NOT being imposed. They have failed to attract sufficient ridership.

HAWAII SUPERFERRY -- RIDERSHIP
	Passengers (Break-even = 433)		Autos (Break-even = 144)		Commercial Vehicles
NOVEMBER 2008	18,890		5,100		621
DECEMBER 2008	16,590		4,868		586
JANUARY 2009	13,312		3,718		622
3 Month TOTAL	48,792		13,686		1,829
NOVEMBER-2008 Approximate Average per one-way transit	249		67		8
DECEMBER-2008 Approximate Average per one-way transit	207		61		7
JANUARY-2009 Approximate Average per one-way transit	166		46		8
3 MONTH Approximate Average per one-way transit	207		58		8

Ridership Source: Numbers from the Wednesday, March 18, 2009 Honolulu Advertiser.