Positive year for Alaska Railroad

The Alaska Railroad Corporation has released its 2011 annual report today, with audited financial statements showing $13.4 million net income on total revenues of $185.7 million. 

Despite a decline in some lines of business, freight train revenue increased 12.7% thanks to expanded coal exports and a 3% volume increase in interline (barge-rail) railcar traffic from Seattle and Canada.

 

Likewise, passenger revenue rose by 7.7% as ridership grew from 405,000 in 2010 to 413,000 in 2011.

 

Beyond train operations, ARRC real estate leasing and permitting provided net income of $8.5 million, which remains crucial to meeting the ARRC mandate to remain
self-sufficient. 

While owned by the State of Alaska, ARRC receives no state money to support operations.  Net income is used to fund capital investments, match federal dollars, and support workforce programs.