26 Nov '14, 5pm

Amtrak reports record revenue #METRO

Loco Steve Amtrak reported unaudited record revenue totaling approximately $3.2 billion for the fiscal year ending Sept. 30, representing the fifth consecutive year of revenue growth, and the eighth out of the past nine years. In FY 2014, Amtrak covered 93% of its operating costs with ticket sales and other revenues, up from 89% the year before. In addition, Amtrak’s unaudited federally funded operating loss of approximately $227 million was the lowest level since 1973, representing a 37% decrease from the prior year and 52% lower than in FY 2007. As a result of the company’s strong operating performance, long-term debt reductions of approximately 61% over the past seven years to $1.3 billion, and other contributing factors, Moody’s Investor Service confirmed Amtrak’s A1/Stable debt rating on Nov. 12, 2014. “Our efforts to operate a more financially sound railroad for our ...

Full article: http://www.metro-magazine.com/news/story/2014/11/amtrak-r...

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