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Rail News: Amtrak
Amtrak on track for best performing year
Amtrak’s fiscal-year ridership is up 1.3 percent year over year through March and its operating earnings are heading toward breakeven by fiscal-year 2021.
Those figures put the railroad on track for the best performing year in its 48 years of operation, Amtrak officials said in a press release.
"We are experiencing record growth, and we look forward to working with Congress to further invest in our rail infrastructure to better serve the changing landscape of our nation,” said Amtrak Chief Executive Officer Richard Anderson.
Millennials and aging populations, for example, are forming new markets, with many of the fastest growing markets having limited or no intercity passenger-rail service, Amtrak officials said.
“We have the potential to meaningfully enhance how this country moves in the future, to provide frequent and reliable, city-to-city passenger rail service,” said Chairman Tony Coscia.
Amtrak continues to invest billions of dollars into modernizing its aging infrastructure, fleet and facilities. Most of its equipment is nearing the end of its useful life and some infrastructure dates back to the early 1900s, Amtrak officials said.
Contact Progressive Railroading editorial staff.