The significant drop in travel demand because of the spreading coronavirus has hit Amtrak hard.
Amtrak said future bookings are down 50% compared to a year ago, and cancellations are up more than 300% across both the Northeast Corridor and its national network.
In a memo to employees, Amtrak Chief Operating Officer Stephen Gardner said Amtrak will likely lose several hundred million dollars in revenue during the current fiscal year, and might lose more.
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In that same memo, Gardner said travelers should expect significant reductions in train service across portions of Amtrak’s network in response to the sharp drop in ridership.
So far, the only announced reduction is the temporary suspension of its three daily nonstop Acela trains between D.C. and New York. It does not affect its other daily Acela trains or other Northeast Corridor service.
Amtrak is waiving change fees on existing or new reservations made before April 30.
Amtrak will offer a voluntary leave program for non-essential employees who are willing to take unpaid time off.
Gardner’s memo said Amtrak is communicating its situation to Congress and other policymakers, and is conserving its resources.
