Intercity passenger rail : Amtrak's progress in improving its financial condition has been mixed

Details

• Subject/TRT Terms:
  • Rail transit
  • Intercity transportation
  • Passenger trains
  • Financial analysis
  • Capital expenditures
  • Legislation
  • High speed rail
  • High speed ground transportation
  • Amtrak
  • Federal funding
• Publication/ Report Number:
  GAO/RCED-99-181
• Resource Type:
  Research Paper
• Geographical Coverage:
  United States
• Corporate Publisher:
  United States. General Accounting Office
• Abstract:
  Since its creation in 1971, Amtrak has accumulated massive financial losses, with recent losses averaging more than $800 million per year. To help Amtrak sustain operations and make needed capital investments, the federal government has provided Amtrak nearly $23 billion in financial assistance since 1971. This report discusses (1) Amtrak's overall financial performance in fiscal year 1998, (2) the prospects for Amtrak to meet its financial goals for operating self-sufficiency outlined in its most recent strategic business plan, and (3) the extent to which current and anticipated federal funding and recently enacted legislative reforms aimed at helping Amtrak control its costs are likely to help improve its financial condition. Basically, it was found that Amtrak's overall losses increased in fiscal year 1998 after several years of improvement.
• Format:
  PDF
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/14610/dot_14610_DS1.pdf
• File Type:
  [PDF - 150.00 KB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:dbf8d6e5bdcef1618a0ffb415f6a84fc13391bac8a29c341ba58c80b94637aaf