Amtrak Executive Summary, no names

Amtrak Executive Summary, no names - AMTRAK Executive...

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AMTRAK Executive Summary Background In 1999 the National Railroad Passenger Corporation, “Amtrak,” tasked their Treasury staff to review lease-financing options for Acela, a new Amtrak line which promised to offer faster trip times and premium service. Formed in 1970, congress mandated Amtrak take over the rail-passenger operations of private railroads. Amtrak’s network provided service to more than 20 million intercity passengers and operated 516 stations in 44 states. Having historically received annual subsidies from the federal government, Amtrak was now forced to become self sufficient by 2002 in the wake of the ARAA, or Amtrak Reform & Accountability Act. Amtrak’s plan to reach self sufficiency by congress’ deadline was centered on a high-speed rail service that was projected to bring in net annual revenues of $180M by fiscal-year 2002. The question remaining was which of three options Amtrak would use to finance $267.9M in remaining obligations. Options being; borrow & buy, lease, or rely on federal sources.
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