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IPFS News Link • Transportation

Amtrak Seeks Billion Dollar Bailout, Prepares To Slash 20% Of Workforce As Ridership Crashes

• https://www.zerohedge.com by Tyler Durden

Amtrak chief executive William J. Flynn wrote a letter to Congress explaining how the economic fallout has devastated the passenger railroad service that provides medium and long-distance intercity travel across the country. 

"It is clear that Amtrak faces daunting challenges in the Fiscal Year 2021, which will require us to take action to protect our rail network, our critical capital assets, and the livelihoods of our employees," Flynn said in the letter dated Monday.

"While we work towards a full recovery one day, our current projections tell us that we expect to see ridership drop by approximately 50%, down to just over 16 million riders in FY 2021," Flynn said in the letter.

Amtrak's request for $1.475 billion is for the fiscal year that begins in October is an addition to its annual $2 billion federal grant. 


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