Sunday, January 13, 2013

Amtrak's annual losses at lowest level since 1975

Courier Post Online story about Amtrak finances for 2012, highlights:

Amtrak's fiscal 2012 $361 million operating loss (year ending Sept. 30) was down 19 percent from 2011 and the lowest total since 1975. Amtrak CEO Joseph Boardman said this is a sign of progress.

Boardman laid out an agenda for 2013 that includes delivery of the first of 70 new electric locomotives and 130 long-distance passenger cars, expansion of the Acela service in the Northeast with an additional New York-Washington round trip, and beginning the work necessary to acquire new high-speed trains.  The new locomotives will be easier to maintain and more energy efficient, using regenerative braking to feed energy back into the power grid.

Amtrak trains carried 31.2 million passengers in the 2012 fiscal year , the highest annual ridership since in 1971.

Amtrak showing improved finances and ridership are great signs, they need to invest to make the system more efficient and expand the service as the economy improves.

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