U.S. railroad Amtrak set to break passenger records in 2024 [CNBC]
ALSTOM UNSP/ADR (ALSMY)
NASDAQ:AMEX Investor Relations:
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Source: CNBC
Ridership was 20% higher in the first seven months of Amtrak's budget year that began Oct. 1, and ticket revenue was up 10% versus the same period in 2023, according to written testimony by Amtrak CEO Stephen Gardner to be presented at a hearing of a U.S. House of Representative subcommittee on Wednesday. “We are on target to set a new all-time ridership record by exceeding the 32.3 million passengers” in 2019, Gardner said in the written testimony. Amtrak passengers grew 45% from 2003 to 2019 to 32.3 million. Gardner said Amtrak's year-to-date revenue is also higher than in 2019, but “has been impacted by the reduced business travel since the pandemic as virtual meetings have replaced many short-duration business trips.” Amtrak said it has fewer seats because of a number of factors including delays in starting service with new Siemens Venture cars that state partners have acquired for Midwestern and California route sand delays in beginning service of the new Acela trainsets
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