Amtrak sets ridership records, profits jump

United States rail services firm Amtrak says it has set monthly or annual ridership records, including the Amtrak Downeaster and services in the Commonwealth of Virginia and the State of North Carolina. 

In a press statement, the company plans to launch new and expanded service, advance safety and reliability, improve accessibility, drive economic development and enhance the customer experience. In addition, the rail company hired more than 4,800 new employees to support ridership growth, improve existing services, and advance historic infrastructure investments.

In total, more than 28 million customers rode the company’s trains around the United States over the last year, a 24.6 pc increase compared to 2022. Amtrak earned USD 3.4 billion in total operating revenue, an increase of 20 pc. Adjusted operating earnings reached USD 752.2 million in 2023, an improvement of USD 130 million from 2022. The strong passenger numbers were partly fuelled by significant growth on the Northeast Corridor, where ridership exceeded pre-pandemic levels by an average of 8 pc since early summer.

Stephen Gardner

“Amtrak ridership continues to set post-pandemic records thanks to our customers who were anxious to travel again and attracted to the many benefits of train travel. This resurgence was made possible by our dedicated employees, our many state and host railroad partners, and ongoing support from the Biden Administration and Congress,” says Stephen Gardner, CEO, Amtrak.

“We are inspired by the soaring demand for intercity passenger rail and are eager to continue connecting more people and places,” he adds.

Earlier this month, US President Joe Biden had announced that Amtrak was awarded nearly USD 10 billion in Federal Railroad Administration funding for work along the Northeast Corridor. The money would be used to modernise critical infrastructure, improve stations and support future ridership growth on the NEC.