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11/25/2013



Rail News: Financials

VIA Rail notes ups, downs in third quarter


Total ridership on VIA Rail Canada Inc. decreased 2 percent to 1 million passengers in the third quarter compared with ridership from the same quarter last year.

On the up side, the train occupancy rate increased by 2 percentage points, from 58 percent to 60 percent during the period, VIA officials said in a press release. Also, ridership within the Quebec City-Windsor corridor and passenger miles rose 6 percent in the quarter, they said.

"We would like to believe that these positive results are an early indication that a 'train culture' is emerging in the corridor," said Marc Laliberté, president and chief executive officer. "This means that more people may be starting to consider the train as their first travel option, for longer journeys, over their car."

The railroad also announced that net income totaled $14.3 million (in Canadian dollars) for the quarter compared with $12.6 million a year earlier. Total revenue slipped to $77.3 million from $82.3 million while on-time performance remained steady at 83 percent.



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