Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.
Amtrak says it had its best year in company history
Passengers board an Amtrak train at New York City's Pennsylvania Station.
Spencer Platt/Getty Images
Amtrak is in the middle of a turnaround plan shepherded by CEO Richard Anderson, and according to the federally subsidized railway, it had its best fiscal year in company history: Ridership is up by almost 3% in the fiscal year that Amtrak closed at the end of September. The company says it’s on track for “operational breakeven” by fiscal year 2020.
Revenue is also up nearly 4%, and the company managed to cut its annual loss to a fifth of what it was in the past year. Amtrak is banking on many of its traditionally lucrative services, such as those in the Northeast corridor, and boosting those. But it’s also investing in local and long-distance services across the nation.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.