Amtrak Reports Record Revenue

Amtrak reported record revenue over the last year and for the first time recorded increased ridership for three straight years. The passenger rail corporation took in $1.84 billion in fiscal year 1999, up 7% from the previous year. That is the highest revenue total in Amtrak’s 28-year history. Ridership for the fiscal year that ended Sept. 30 was 21,508,700, up 2% from last year and nearly 10% since it began rebounding in 1997. Also in 1999, Amtrak increased the number of trains operating in nine states and introduced service to Oklahoma for the first time in 20 years. Amtrak reported that it is on course to wean itself from government subsidies by 2003. A 1997 law prohibits Amtrak from using any federal funds for operating expenses after fiscal 2002.

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