Vancouver taxi companies say the 2010 Winter Games are set to drive them out of business.

Black Top Cabs president Amrik Mahil says the last few weeks have been the slowest his company has seen in 15 years.

"We're down about 40, 45 per cent in fares," Mahil said. "All four companies in Vancouver, they are struggling just as much."

Mahil cited the recession, the opening of the Canada Line, and a number of provisional Olympic transportation measures for the drop in business.

On Jan. 24, the Passenger Transportation Board temporarily relaxed the boundary restrictions for 35 per cent of the cabs in Metro Vancouver.

Now, Black Top's 197-car fleet has roughly 330 more vehicles from across the region competing for Vancouver fares.

The board has also granted 44 temporary taxi permits to handle the influx of Games tourists. It all adds up to bad business for Vancouver's local cab companies.

"If things keep going the way they are, we're going to start losing drivers," Mahil said. "They don't want to drive if they're not going to be making money."

Passenger Transportation Board director Jan Broocke said the measures were put in place to ensure both Olympic tourists and locals would be accommodated during the games.

"Our plan was designed to allow the existing supply to be used more efficiently," Broocke said.

Asked why the relaxed boundaries were implemented so early, Broocke cited a bad tip.

"We had heard anecdotally that there were media coming in early, and there could be some people coming in prior to the actual Olympics," said Broocke.

But the Games themselves are just days away, Broocke said, and cab drivers' patience will be rewarded with thousands of possible fares.

Mahil isn't so sure. He says traffic restrictions that prohibit all vehicles, including taxis, from stopping in Olympic lanes means picking up passengers could prove difficult.

"You go in that lane and stop, you're going to be ticketed," he said. "Mobility's going to be a big problem for the next few weeks."

With files from The Canadian Press