Amtrak truth and fiction: Northeast Corridor service still unprofitable
Skift Take
Amtrak received a federal subsidy of nearly $1.4 billion in fiscal 2012. It would be nice if positive trends continue and Amtrak can reduce the amount of the federal handout that it needs. But, no one should be under any illusions that Amtrak is now magically making a profit.
As passengers take to Amtrak trains this Memorial Day weekend, they may be comforted to know that the rail line's financial picture is improving a bit, but some news media reporting about the service tend to be misleading.
For example, a recent Associated Press story about Amtrak's order of 70 new locomotives stated: "Amtrak said it will be able to pay back a $466 million federal loan for the locomotives over 25 years using net profits from the N
