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2008: A Boom Year for U.S. Passenger Railroads

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  NEC ticket revenue for September 2008 was $79.4 million.  NEC ticket revenue for FY 2008, which ended on September 30, 2008, was $950.6 million.  NEC revenue for FY 2008, which includes ancillary business revenue generated by the NEC, was $1009.4 billion.  Attributed Costs for the fiscal year were $640.4 million, leaving a contribution before interest and depreciation of $369 million.  The NEC was the only segment of Amtrak's operations that covered its operating costs.  FY 2008 ticket revenue for the long distance trains was $414.7 million and total revenue was $454.5 million.  Total attributed costs were $936.3 million leaving a loss of $481.8 million before interest and depreciation.  As stated, the avoidable cost alone was $635.2 million.  The long distance trains lost $43 million more in FY 2008 than FY 2007 despite carrying 9.2 per cent more riders.  If the long distance trains were eliminated, and Amtrak was able to shed the overheads associated with them, as well as adjust ticket prices for the NEC and State Supported and Other Short Distance Corridor Trains, it might just be able to break even.  At a minimum it could cut its losses significantly.  And begin to look more like a real business.
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