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Industrials

U.S. passenger railroad reports $801 million loss

FILE PHOTO: An Amtrak train is parked at the platform inside New York's Penn Station NY, U.S. July 7, 2017. REUTERS/Brendan McDermid

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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