Company focused on restoring service, increasing ridership, building a new workforce and improving infrastructure
WASHINGTON, November 29, 2022 /PRNewswire/ — Amtrak continued to rebuild its business and usher in a new era of investment in intercity passenger rail in fiscal year 2022 by increasing ridership by 89 percent, restoring and expanding service across the country, and launching major infrastructure projects. From hiring a record number of employees to building a new Capital Delivery organization focused on modernizing infrastructure, major stations and trains, Amtrak is building the capacity and talent to bring sustainable investment and improvements to intercity rail passenger communities across the country.
“We’ve been working hard to restore service and grow ridership in the face of the lingering impact of the pandemic, all while modernizing our assets to make rail travel a better experience for customers,” Amtrak’s CEO said. Stephen Gardner. “Thanks to the hard work and dedication of every employee and bipartisan support and collaboration from the Biden Administration, Congress and our state partners, Amtrak has brought more trains back to more places and expanded its network to connect more people across America.”
Demand for Amtrak service rebounded strongly in the second half of FY22 after last winter’s Omicron wave, with total ridership reaching about 85% of pre-COVID levels. State-supported and long-haul North East Corridor (NEC) ridership increased by 110%, 85% and 56% respectively compared to FY21 ridership. Based on current forecasts, Amtrak expects ridership and revenue to improve more than 90% from pre-Covid levels by the end of FY23, bucking the continued downward trend seen across most commuter rail and transit systems. public transport. Increased ridership and revenue helped Amtrak reduce operating losses by 145 million dollars compared to anticipated FY22 levels, setting the stage for improved financial performance of rail operations in the coming years.
“The ridership that exceeds our expectations shows that riders are returning to Amtrak for intercity travel and that United States is ready for more and better passenger rail service,” said the chairman of the Amtrak Board of Directors Tony Coscia. “We are doing our part to help bring about a new era of improved rail passenger transport and low-carbon mobility. As we begin the new year, Amtrak will prioritize improving customer service, expanding our network and advancing our infrastructure and fleet modernization programs.”
Preliminary results for FY22 (October 2021 – September 2022) can be found here and the full ridership results can be found here.
SOURCE Amtrak
