Amtrak’s fiscal 12 months 2020 complete working income dropped nearly 32 p.c 12 months over 12 months to $2.3 billion, and complete buyer journeys fell by greater than 15 million to 16.8 million, the rail service introduced. Amtrak’s fiscal 12 months ended Sept. 30.
Amtrak attributed the drop in demand to pandemic-related journey restrictions. Present income is about 25 p.c of its pre-Covid ranges, in accordance with Amtrak
“Our devoted staff proceed to work tirelessly by way of the pandemic to maintain this nation transferring, advance vital infrastructure and replace know-how and companies, and supply protected transportation to clients,” mentioned Amtrak president and CEO Invoice Flynn in an announcement. “Nonetheless, with out extra funding for 2021, we shall be compelled to additional cut back service, defer vital capital tasks and make extra job reductions regardless of this vital progress.”
In April, Amtrak was granted over $1 billion in federal CARES Act help from on situation of not furloughing staff till Sept. 30
Amtrak tasks fiscal 12 months 2021 ridership and income will complete about 37 p.c of pre-Covid ranges.
For the 2020 fiscal 12 months, working earnings totaled $801.1 million, and capital funding totaled $1.9 billion for infrastructure and fleet work.