Mar 11, 2020 - Economy

Amtrak warns it could lose hundreds of millions in revenue due to coronavirus outbreak

Jacob Knutson

A passenger boarding an Amtrak train in November 2019. Photo: Alex Wong/Getty Images

Amtrak officials announced Wednesday that the company's revenue is falling as consumers cancel trips and avoid future bookings as a reaction to the novel coronavirus outbreak, the Wall Street Journal reports.

The state of play: The company canceled nonstop service between Washington, D.C., and New York, according to CNBC, and plans to announce a voluntary unpaid leave program for nonessential employees, WSJ reports.

What they're saying: Stephen Gardner, Amtrak's chief operating and commercial officer, wrote in a memo to employees that the company expects ticket revenues to decline by "several hundred million dollars" as trip cancellations are up 300%.

Gardner also told employees to expect considerable reductions in train service due to decreased ridership.

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Amtrak warns it could lose hundreds of millions in revenue due to coronavirus outbreak

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