Amtrak Lost $1.08B in FY2021

Amtrak lost $1.08 billion in adjusted operating earnings during fiscal year 2021.

In a report summarizing its FY2021 activities, the passenger carrier blamed the loss largely on lost revenue from ridership plunges during the COVID-19 pandemic.

The report said Amtrak provided 12.2 million passenger trips, an increase of 4 million over FY2020 ridership.

Ridership in FY2021 was 42 percent over the goal and has now reached 70 percent of pre-pandemic levels.  More than half of the FY2021 ridership came in the second half of the fiscal year.

Amtrak said it expects ridership in FY2022, which runs through Sept. 30, 2022, to be 80 percent of its pre-pandemic level.

The report emphasized that the fiscal results are preliminary. The adjusted operating earnings were $400 million “ahead of plan,” Amtrak said.

During FY2021, Amtrak said it advanced $2.2 billion in capital spending, including major milestones such as the acquiring property for the Hudson Tunnel Project between New Jersey and New York City and buying new multi-powered trainsets from Siemens Mobility.

Tags: Amtrak, Amtrak finances, Amtrak financial results, Amtrak ridership