Amtrak Cuts Its Losses, Reports Record Revenues
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WASHINGTON — Amtrak, the National Railroad Passenger Corp., had record revenues of $1.27 billion last fiscal year, the quasi-government corporation reported.
That income covered 72% of costs for the railroad passenger operation, up from 69% a year earlier and the highest revenue-to-cost ratio in the agency’s history, Amtrak said Monday.
As recently as 1981, Amtrak revenues covered less than half of its costs. The difference between costs and revenues is made up by federal appropriations.
The revenues of $1.27 billion were up from $1.1 billion a year earlier, Amtrak reported.
The total number of passengers carried was down slightly, from 21.5 million to 21.4 million. But passenger miles, defined as carrying one passenger one mile, rose from 5.7 billion in 1988 to 5.9 billion in the fiscal year ending Sept. 30, 1989.
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