Intercity passenger rail : Amtrak's financial crisis threatens continued viability : statement of Phyllis F. Scheinberg
-
1997-04-01
Details:
-
Creators:
-
Subject/TRT Terms:
-
Publication/ Report Number:
-
Resource Type:
-
Corporate Publisher:
-
Abstract:Amtrak is still in a financial crisis despite the fact that its financial
performance (as measured by net losses)2 has improved over the last 2
years. At the end of fiscal year 1994, Amtrak’s net loss was about $1.1
billion (in 1996 dollars). This loss was $873 million if the one-time charge
of $255 million—taken in fiscal year 1994 for accounting changes,
restructuring costs, and other items—is excluded.3 By the end of fiscal
year 1996, this loss had declined to about $764 million. However, the
relative gap between total revenues and expenses has not significantly
closed, and passenger revenues (adjusted for inflation)—which Amtrak
has been relying on to help close the gap—have generally declined over
the past several years (see apps. II and III).
-
Format:
-
Collection(s):
-
Main Document Checksum:
-
File Type:
Supporting Files
-
No Additional Files
More +