INTERCITY PASSENGER RAIL: FINANCIAL PERFORMANCE OF AMTRAK'S ROUTES

Given Amtrak's continued dependence on federal operating subsidies, the General Accounting Office was asked to examine the financial (1) performance of Amtrak's current routes, (2) implications for Amtrak of multiyear capital requirements and declining federal operating subsidies, and (3) effect on Amtrak of reforms contained in the Amtrak Reform and Accountability Act of 1997. Briefly, Amtrak spends almost $2 for every dollar of revenue it earns in providing intercity passenger service. Only the Metroliner's high-speed service between Washington, D.C., and New York City is profitable; all of Amtrak's other 39 routes operate at a loss. Amtrak is in a very precarious financial position and remains heavily dependent on federal funding to pay its operating and capital expenses. The reforms included in the Amtrak Reform and Accountability Act of 1997 will have little, if any, immediate effect on Amtrak's financial performance, according to Amtrak and Federal Railroad Administration officials.

• Record URL:
  • https://doi.org/10.21949/1403057
• 
• Record URL:
  • https://rosap.ntl.bts.gov/view/dot/12576
• Supplemental Notes:
  • United States General Accounting Office Report to Congressional Committees
• Corporate Authors:

  U.S. General Accounting Office

  441 G Street, NW
  Washington, DC  United States  20548
• Publication Date: 1998-5

Language

• English

Media Info

• Features: Appendices; Figures; Tables;
• Pagination: 49 p.

Subject/Index Terms

• TRT Terms: Capital costs; Federal aid; Financial analysis; Government funding; Intercity transportation; Losses; Operating costs; Passenger trains; Railroad transportation; Routes; Subsidies
• Identifier Terms: Amtrak
• Subject Areas: Finance; Operations and Traffic Management; Passenger Transportation; Railroads;

Filing Info

• Accession Number: 00761126
• Record Type: Publication
• Report/Paper Numbers: GAO/RCED-98-151
• Files: NTL, TRIS
• Created Date: Mar 9 1999 12:00AM