US passenger railroad Amtrak sets ridership record, cuts losses

WASHINGTON, Nov 18 (Reuters) - U.S. passenger railroad Amtrak said Tuesday it set a new yearly record for ridership and revenue as it cut losses by 15% to $598 million.

Amtrak is the middle of a massive effort to rehabilitate aging infrastructure along the busy northeast corridor between Boston and Washington, is increasing service across the United States, buying new higher-speed Acela train cars and will replace regional trains starting next year.

Amtrak said in the 12 months ending Sept. 30, it had 34.5 million customer trips, up 5.1% with operating revenue of $3.9 billion, up 9.1%, even with less capacity. The White House in March forced Amtrak CEO Stephen Gardner to step down after President Donald Trump sought the changes. Amtrak's board has not named a new CEO, but Amtrak President Roger Harris is running operations.