AMTRAK: Need Another $1B Bailout To Survive

AMTRAK ASKS CONGRESS FOR $1.475 BILLION IN ADDITIONAL FUNDING TO KEEP TRAINS ROLLING IN FISCAL YEAR 2021

(CNN) – The Travel and Transportation Industry has been hard hit by the pandemic, now add AMTRAK to the mix.

AMTRAK is asking for additional federal funding to keep trains rolling at minimum service levels.

AMTRAK submitted a letter to congress seeking just under $1.5 billion for fiscal year 2021.

That’s in addition to the $2 billion AMTRAK had already requested.

Ironically, before the pandemic, 2020 was poised to be the first break even year in the company’s history.

Ridership has gone off the rails though with the reduction in travel due to coronavirus.

AMTRAK estimates current numbers of passengers are just five percent of pre-pandemic capacity.

Categories: Business