Airplanes might be a quicker way to get to some destinations, but a growing number of people are content to ride the rails these days.
Amtrak has announced it hit an all-time ridership record in its 2024 fiscal year, with 32.8 million passengers taking trips. That’s a 15% increase over the 2023 figures.
That many riders also gave the railway giant a big bump in revenues. Ticket revenue hit $2.5 billion, a 15% increase, while total operating income came in at $3.6 billion, a 7% increase from the previous year.
“Breaking our ridership record is just the beginning,” said Amtrak CEO Stephen Gardner in a statement. “This record ridership shows that travelers throughout the U.S. want efficient travel options, and we are committed to meeting that demand. Through bold investments, strong partnerships with states and host railroads, and dedicated planning, we are doubling down on our vision to connect more people and communities like never before.”
Amtrak said it has invested $4.5 billion into infrastructure upgrades this year, including new equipment, upgraded stations and expanded service. That, it hopes, will continue to boost ridership in years to come. Amtrak has set an ambitious goal of doubling its ridership to 60 million by 2040.
The uptick in fortunes comes after Amtrak received a transformative commitment of $66 billion in 2021, four times the amount it had gotten in the previous six years, allowing it to stop living “hand to mouth” Gardner has said.
Some of that money has been used to repair bridges and tunnels along the busy Northeast Corridor. Some tracks are being examined for possible replacement, which would allow faster train speeds and the rain service has started a $3.7 billion project to expand rail coverage between Virginia and North Carolina.
