Montreal's Bixi is one of the most replicated bike-sharing systems in the world, but the publicly backed company has struggled with financial troubles since debuting in 2008. Outstanding payments due to Bixi are the latest threat to the company.
In a recent letter from Jacques Bergeron, Montreal's auditor general, to the city, he expressed "serious doubts as to whether Bixi could continue its Montreal and Toronto operations," reports CBC News.
However, if the statements of local leaders are any indication, the system will not soon disappear. "Jean-François Lisée, the provincial minister responsible for Montreal, said Bixi was a valuable service and deserved to be helped out. He said the Quebec government is working on a $5-million bridge loan for the program."
"In 2011, Montreal's city council approved a $108-million bailout package for the program to cover a budget shortfall. That included a $37-million loan to cover Bixi's deficit, and another $71-million in loan guarantees to export and develop the system abroad."
FULL STORY: Bixi to continue despite financial problems
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