Montréal, 2012-12-03 — /travelprnews.com/ — VIA Rail Canada’s Board of Directors today released the Corporation’s third quarter 2012 results. Between July and September 2012, VIA Rail’s ridership and revenues were lower than last year for the same period, due partially to challenges faced by the travel industry. However, as a result of stringent cost management measures, the Corporation’s bottom line was within approved funding levels for the quarter.
“In the third quarter, VIA Rail continued to face significant challenges with respect to both ridership and revenues, in all parts of its passenger rail network. We launched new strategies to retain customers and attract new ones, while at the same time, working harder than ever to control costs, and improve our productivity. Now, we have to look at the best ways to use our resources to deliver a better return for our operating funding. As we move forward, our long term goal is to make VIA Rail a financially and commercially viable operation, with a new approach to operating as a publicly-owned business,” explained VIA Rail President and Chief Executive Officer Marc Laliberté.
The report also states that, by the end of the third quarter of 2012, 80% of the $923 million fund committed by the Government of Canada to upgrade tracks, modernize passenger stations, and renew passenger trains and technology had been invested.
Highlights include:
Tracks
Rolling stock
Stations
IT
To read VIA Rail’s quarterly financial results, go to: http://www.viarail.ca/en/about-via-rail/our-company/quarterly-reports
About VIA Rail Canada
As Canada’s national passenger rail service, VIA Rail Canada (www.viarail.ca) has a mandate to provide Canadian travellers with safe, efficient, and cost-effective passenger transportation services in the country’s two official languages. VIA operates intercity, regional and transcontinental train services linking 450 communities through its 12,500-kilometre network. Winner of the 2011 RAC Safety Award, VIA Rail safely transports more than four million passengers annually. In 2007, the Government of Canada invested almost a billion dollars in VIA Rail. Follow our transformation on viarail.ca/transformingVIA.
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