Two days after the first round of rail traffic was halted by the Alberta wildfires, the BNSF Railway stock fell to its lowest level in more than four years.
The company announced Monday it will close at least five new stations and replace about 2,000 of its locomotives.
The shutdown means more than 4,000 passengers will need to transfer to another train to continue their journey.
“It’s been a very challenging few days,” said BNSB spokesman Paul Lassen.
“We’re trying to make sure we can get to the people who need to get to work, the people that need to come home.”
It’s not the first time BNSFs stock has been hurt by wildfires.
On Feb. 12, 2017, the company announced that more than 200 of its rail cars would be destroyed by the massive fire in Fort McMurray.
“I think that’s one of the biggest challenges that we face in our business,” said Lassens.
Lasseners main concerns with the stock are the potential impact on its workforce, the long-term impact on the rail fleet and the risk of a prolonged shutdown. “
But it does mean that there are people out there that have to go and make a change.”
Lasseners main concerns with the stock are the potential impact on its workforce, the long-term impact on the rail fleet and the risk of a prolonged shutdown.
The first round, which saw about 100 trains, had only about 70 of them running by Wednesday.
“If the shutdown continues, that will have a huge impact on our company and the people of BNSBs [Canadian National Railway] who have to get home to work,” said Andrew Proulx, a BNSBF spokesman.
The stock has lost about half its value over the past year.
BNSf is also facing an additional 1.3 million barrels of oil equivalent (bbl/day) in costs related to the fires, which have already taken about $400 million out of the economy.
“Our position is that the risk and the likelihood of the fires receding in the near future is very low,” said Proullx.
“What we need to do is get to a point where we can make sure that people get home safely.”
BNSb is currently looking to add at least 200 new locomotivments to the fleet.
But if the situation continues, it will need at least 20 new cars, which would cost an additional $1.5 billion.