Amtrak this month reported unaudited record revenue totaling approximately $3.2 billion for the fiscal year, representing the fifth consecutive year of revenue growth, and the eighth out of the past nine years, the railroad said.
In FY 2014, which ended Sept. 30, 2014, the railroad covered 93 percent of its operating costs with ticket sales and other revenues, up from 89 percent the year before. In addition, Amtrak’s unaudited federally funded operating loss of approximately $227 million was the lowest level since 1973, representing a 37 percent decrease from the prior year and 52 percent lower than in FY 2007, the railroad said.
“Our financial performance over the past year is the clearest indication yet that Amtrak’s investments, operating efficiencies and focus on its customers is paying off,” Amtrak Chairman of the Board Tony Coscia said in a news release.
“Under the leadership of Amtrak’s Board and management,the company is transforming how it does business,” Coscia added. “We are delighted with our latest financial results and committed to making further progress in the years ahead. As we continue to make improvements in our operating and financial performance, we call upon the federal government and our stakeholders to support the capital investments necessary to keep moving Amtrak forward.”
Amtrak President and CEO Joe Boardman said that to meet future passenger demands, increased levels of federal capital investment are needed to improve, expand and replace the aging infrastructure that supports intercity passenger rail. Predictable dedicated funding from the federal government to build new tracks, tunnels, bridges and other rail infrastructure—particularly on the Northeast Corridor and in Chicago—will keep Amtrak advancing and its customer base growing.