Login
or
Register
Home
»
Trains Magazine
»
Forums
»
Passenger
»
Amtrak's FY 2008 Key Performance Numbers
Edit topic
Updated your discussion topic below.
Subject
Enter a subject for your topic. Maximum 150 characters.
Post Body
Enter your post below.
<P mce_keep="true">Amtrak's key performance numbers for FY 2008 show many improvements over FY 2007.</P> <P mce_keep="true">Consolidated revenues increased 14.2 per cent. Passenger related revenues increased 13.1 per cent, whilst commuter revenues increased 10.3 per cent, other revenues increased 12.7 per cent, and state and capital payments increased 1,258 per cent. </P> <P mce_keep="true">Ticket revenues increased 14.7 per cent for the system, i.e. 14.6 per cent for the NEC, 17.5 per cent for State Supported and Other Short Distance Corridor trains (SS&SD), and 10.3 per cent for Long Distance trains (LD).</P> <P mce_keep="true">The number of passengers - 28.7 million - increased 11.1 per cent. Passenger miles increased 8.95 per cent and seat miles increased 1.9 per cent. The load factor increased from 48.9 per cent to 52.3 per cent, an increase of 3.38 percentage points. This suggests that the system was more efficient in FY 2008. However, the notion that it was standing room only on Amtrak for most of the year is not supported by the numbers, although there were surely heavy loads during peak travel periods, especially whilst gasoline was approximately $4 per gallon.</P> <P mce_keep="true">The NEC carried 38 per cent of Amtrak's passengers compared to 38.8 per cent in FY 2007. The SS&SD trains carried 47.5 per cent compared to 46.4 last year, whilst the LD trains hoisted 14.5 per cent of the system passengers compared to 14.8 in FY 2007. </P> <P mce_keep="true">The NEC operating profit increased 43.4 per cent to $369 million before interest and depreciation. The operating loss for the SS&SD trains decreased 3.6 per cent to $117.5 million, but the LD operating loss increased 9.8 per cent to $481.8 million. </P> <P mce_keep="true">The LD trains brought in 22.5 per cent of Amtrak's FY 2008 revenues but accounted for 47.5 per cent of Total Attributed Costs before interest and depreciation. While carrying just 14.5 per cent of Amtrak's passengers, they accounted for 209 per cent of Amtrak's operating loss before interest and depreciation. How did they do this? They ate all the operating profit on the NEC ($369 million) and contributed another $112.8 million to the operating loss. This is the side of the LD train argument that its proponents, including NARP, never mention whilst reporting increases in revenues and number of riders. </P> <P mce_keep="true">The net system loss from consolidated operations decreased from $1.12 billion in FY 2007 to $1.01 billion, a decrease of 9.6 per cent. The increase in revenues was offset partially by significant increases in fuel, power, and utilities, casualty and other claims, depreciation, and miscellaneous items.</P> <P mce_keep="true">On a passenger per mile basis, the NEC trains contributed 20.7 cents before interest and depreciation, whilst the SS&SD trains lost 6.6 cents, and the LD trains lost 18.5 cents. The Acela was the biggest contributor in the NEC at 34.9 cents. The Hoosier State was the biggest SS&SD loser at 59.4 cents, whilst the Sunset Limited turned in the worst LD performance at 47.5 cents. </P> <P mce_keep="true">A passenger traveling from Los Angeles to New Orleans on the Sunset Limited in FY 2008 received an average federal subsidy of $947.63 before interest and depreciation. A business class seat on AirTrans would have cost approximately $539. Amtrak could have bought the passenger a business class ticket on AirTrans and saved the taxpayers more than $408.63 per LA to NO passenger by discontinuing the train. </P> <P mce_keep="true">Four regularly scheduled SS&SD trains covered their operating costs compared to five in FY 2007. Not surprisingly, none of the LD trains even came close to covering their operating costs. </P> <P mce_keep="true">End point on-time performance improved to 71.2 per cent during FY 2008. This is up from 68.6 per cent in FY 2007. The Acela trains were on time 84.5 per cent, down 3.3 per cent from last year. Other NEC trains, including the Keystone service, had on-time record of 79.7 per cent. The SS&SD trains had on-time performance of 68.6 per cent, which was a 3.1 per cent improvement over the prior year, whilst the LD trains had an on-time arrival rate of 54.2 per cent compared to 41.6 per cent. </P> <P mce_keep="true">If Amtrak was managed like a business, its executives would concentrate on the business lines that serve the greatest number of passengers with the smallest losses and the best prospects for breaking even. These are the NEC and SS&SD trains. They would drop the LD trains because they have no chance of ever covering their operating costs. </P>
Tags (Optional)
Tags are keywords that get attached to your post. They are used to categorize your submission and make it easier to search for. To add tags to your post type a tag into the box below and click the "Add Tag" button.
Add Tag
E-mail Subscribe
Check the box below if you want to receive e-mail notifications when replies are made to this thread.
Receive notifications
Update Discussion Topic
Join our Community!
Our community is
FREE
to join. To participate you must either login or register for an account.
Login »
Register »
Search the Community
Newsletter Sign-Up
By signing up you may also receive occasional reader surveys and special offers from Trains magazine.Please view our
privacy policy
More great sites from Kalmbach Media
Terms Of Use
|
Privacy Policy
|
Copyright Policy