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Amtrak Posts $801 Million Loss for Fiscal Year

Revenue and passenger traffic fell sharply this past year because of the coronavirus pandemic.

Image source: Amtrak

WASHINGTON (Reuters) – U.S. passenger railroad Amtrak said on Monday it lost $801.1 million in the year ending Sept. 30 as revenue and passenger traffic fell sharply because of the coronavirus pandemic.

Amtrak is seeking nearly $2.9 billion in additional government assistance this year to avert more job and service cuts after winning a $1 billion U.S. bailout in April.

Amtrak said Monday operating revenue fell 32% to $2.3 billion over 2019 levels and ridership remains at about 25% of pre-COVID-19 levels.

Reporting by David Shepardson; Editing by Chris Reese.

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Source: Reuters