The Port Authority of New York and New Jerseyis considering cutting off service beEileen O'Donnell/Getty

The Port Authority of New York and New Jersey might cancel its late-night PATH train service as a way to save money unless it comes up with another revenue source.


The bi-state agency is considering cutting off service between 1 and 5 a.m. every day of the week, potentially saving some $10 million but leaving 390,000 customers without a ride.


"Curtailment of PATH service would be a last resort," Port Authority Chairman John Degnan wrote in a statement Monday. "In addition, this is only one of several ideas being considered to get the PATH deficit under control."


The idea was floated by a special panel convened by Governors Andrew Cuomo and Chris Christie in a report in December as a cost-saving recommendation. The Port Authority currently has a $7.8 billion budget.


A 2014 report by the New York City-based Citizens Budget Commission expects the PATH train's deficit alone to reach almost $500 million annually by 2018.


"Let's face it. This is a terrible idea," Mayor Dawn Zimmer of Hoboken told reporters on Monday.