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Rail News: Passenger Rail
VIA Rail logged 3.7 percent revenue increase in 2014
VIA Rail Canada Inc. posted a 3.7 percent year-over-year increase in total revenue in 2014, according to the passenger railroad's annual report released yesterday.
VIA Rail's revenue for 2014 came in at $280.3 million (in Canadian dollars), while the railroad logged $270.4 million in 2013.
VIA Rail's east corridor running from Montreal to Toronto generated the greatest amount of revenue at $173.7 million, according to the report.
A new train was added in each direction to the Ottawa-Toronto service Friday through Monday in 2014, which amounted to 48 departures per week in each direction, VIA Rail officials said in a press release.
"While challenges abound, VIA Rail's overall 2014 performance confirms that the traveling public is buying into the solid value proposition train travel represents," said VIA Rail President and Chief Executive Officer Yves Desjardins-Siciliano in a statement.
The railroad also completed refurbishment of its LRC Business Class cars in 2014.
Total operating expenses for 2014 increased to $597.4 million compared with $578 million in 2013, according to the report.
Contact Progressive Railroading editorial staff.