Amtrak Operating Loss Widened In Fiscal Year 2015

December 4, 2015

From Dow Jones Newswires via FOX Business

Amtrak said Wednesday its adjusted operating losses in fiscal 2015 widened to $306.5 million from the previous year’s loss of $230 million, which was its lowest in four decades.Website Insert Fleet for Sale or Lease copy

The railroad attributed the latest losses in part to at least $50 million in damages and lost revenue stemming from a May derailment in Philadelphia that killed eight people, damaged equipment and suspended service for days along its busy Northeast Corridor between Washington, D.C., and Boston.

Amtrak also cited at least $10 million in expenses and lost revenue related to extensive repairs to an electrical system needed to run trains through its pair of aging tunnels under the Hudson River between New Jersey and Manhattan.

Problems with the tunnels this summer disrupted travel for thousands of passengers and renewed a debate over how to pay for Amtrak’s backlog of construction projects and repairs.

Click here to read the full story.

 

Previous post:

Next post: