Tuesday, November 19, 2019

 


Amtrak reports record revenue, ridership, but still in red

NEWARK, N.J. — Amtrak is reporting record ridership and revenue figures for the fiscal year that ended Sept. 30.

The government-owned passenger railroad said Friday it provided 32.5 million passenger trips. That's an increase of about 800,000 over the previous fiscal year.

Ridership numbers were affected the last two years by summer repair work at New York's Penn Station that forced some service cutbacks.

Total operating revenue rose more than 3 per cent to $3.3 billion with an operating loss of just under $30 million. That's the smallest loss in the heavily subsidized railroad's 49-year history. Amtrak reported an operating loss of about $170 million in 2018.

Officials said they expect to break even by the end of the next fiscal year. Last year, they had projected eliminating operating losses by 2021.

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