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Published on : Monday, November 25, 2013
Today, VIA Rail Canada’s Board of Directors released the Corporation’s 2013 third quarter financial report. During the three months covered by the report, VIA Rail transported 912,000 passengers within the Québec City – Windsor corridor, and passenger-miles (the total number of miles travelled by all passengers) increased by 6% compared to the same quarter in 2012.
“We would like to believe that these positive results are an early indication that a “train culture” is emerging in the Corridor,” stated Marc Laliberté, President and CEO of VIA Rail. “This means that more people may be starting to consider the train as their first travel option, for longer journeys, over their car.”
Ridership on the total network saw a slight decrease of 2% – reaching 1 million passengers compared to 1.03 million in 2012. The train occupancy rate, however, increased by 2 percentage points, from 58% to 60%, compared to the same quarter of 2012. Trains achieved on time performance of 83%. Passenger revenues totaled $72.2 million for the quarter, decreasing by 6.5% compared to the third quarter of 2012. Operating Expenses before amortization of deferred capital funding and corporate taxes rose by $6.7 million, an increase due primarily to higher depreciation costs related to capital investments completed in 2012, as well as an increase in the cost of employee benefits. As a result, government funding increased by $9.8 million for the quarter.
Highlights of the third quarter of 2013 include:
Source:- Via Rail