Amtrak Reports ‘Exceptional’ FY 2016

Amtrak said on Thursday that unaudited financial records show that it ended fiscal year 2016 in an exceptional financial position.

Amtrak logoTicket revenue was a record $2.14 billion, a $12 million increase over FY 2015. The carrier served 31.3 million passengers, nearly 400,000 more than the previous year.

It was the sixth consecutive year that Amtrak has carried more than 30 million customers.

Amtrak said it covered 94 percent of its operating costs with ticket sales and other revenues, up from 92 percent in the previous fiscal year.

The unaudited total revenue was a record $3.2 billion for FY 2016. Amtrak reported an unaudited operating loss of $227 million, a reduction of $78 million over last year, and the lowest operating loss since 1973.

This helped the passenger carrier make a net reduction in long-term debt of $71.4 million.

“The results demonstrate the value we deliver to our customers and the vital role Amtrak plays in our nation’s transportation system,” said Amtrak Chairman of the Board Anthony Coscia in a statement. “We are off to another strong start for the new fiscal year and will provide a great travel experience for customers who choose Amtrak in the upcoming holiday season.”

Several Amtrak services had record years in ridership and revenue including the Northeast Regional (Boston-New York-Washington/Virginia), Pacific Surfliner (San Luis Obispo-San Diego), Capitol Corridor (San Jose-Sacramento/Auburn), Keystone (New York-Philadelphia-Harrisburg) and Hiawatha (Milwaukee-Chicago) state-sponsored corridors, along with the California Zephyr (Chicago-San Francisco Bay).

To boost ridership, Amtrak added cars to high-demand or sold-out trains. On time performance of trains and customer satisfaction scores both improved.

The 2016 fiscal year ended on Sept. 30.

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: