Interstate 95 on the East Coast is now so congested that every community it passes through wants a rail stop, he says. “There's just not been real investment in rail in America,” he says, “or a sufficient investment in Amtrak.”Īmtrak also reported a record of 32.5 million passengers for 2019 with most of the gains in ridership coming from Amtrak’s Northeast Corridor, which runs from Boston to Washington, D.C.Īnderson has said he wants to prioritize urban corridors over cross-country routes, but it’s not happening as fast as he would like - nor “as fast as the country needs it,” he says.Īmtrak is growing significantly on routes near congested highways that connect dense urban areas like San Diego to Los Angeles and Milwaukee to Chicago. The company invested in the Hudson Tunnels in New York to repair damages caused by Hurricane Sandy in 2012 and to replace the century-old Portal Bridge in New Jersey.Īmtrak has between a $30 billion to $40 billion backlog of investments on infrastructure, Anderson says. “Where we want to be as America's railroad is to cover all of our operating costs through our revenues,” he says, “and then use the grant that we receive from our owners, the United States government, to invest in the infrastructure, the rail infrastructure across America.”Īnderson, who also formerly served as CEO of Delta Air Lines, says it’s difficult for Amtrak to become profitable because the company has a backlog of debt from investments in infrastructure. The company reported $29.8 million in losses - an 83% improvement over last year, he says - and has reduced operating losses by close to $400 million over the past year.Īnderson says he thinks the numbers reflect Amtrak employees’ dedication to the company’s mission and statutory obligation.
Richard Anderson, president and chief executive, says this marks Amtrak’s best operating performance ever. Last week, the company reported an operating revenue of $3.3 billion for fiscal year 2019 - a 3.6% increase over the last year. (Spencer Platt/Getty Images) This article is more than 2 years old.Īmtrak is on track to break even on its passenger railroad service next year for the first time in the company’s nearly 50-year history.įounded in 1970, the national rail operator receives federal and state subsidies but the company is better known for losing money than turning a profit. A train conductor stands next to an Amtrak train at New York's Pennsylvania Station.
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