Amtrak Wednesday reported that it took in record revenue over the past year, and for the first time recorded increased ridership for three consecutive years.
Amtrak took in $1.84 billion in fiscal 1999, up 7 percent from the previous year, according to the Associated Press. That is the highest revenue total in Amtrak's 28-year history.
Ridership for fiscal 1999 was just over 21.5 million, up 2 percent from last year and nearly 10 percent since it began rebounding in 1997.
Amtrak reported that it is on track to wean itself from government subsidies by 2003. A 1997 law prohibits Amtrak from using any federal funds for operating expenses after fiscal 2002.
"This year's growth in revenue, implementation of initiatives to improve efficiency, and America's demand for passenger rail, demonstrate the increasing fiscal strength of Amtrak and bring the goal of operational self-sufficiency well within our sights," said Wisconsin Gov. Tommy Thompson, Amtrak's chairman of the board.
Amtrak's systemwide on-time performance remained steady at 78 percent, the corporation reported.
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