Union Pacific posts record operating ratio despite traffic, revenue declines

OMAHA, Neb. — Union Pacific’s third-quarter revenue and earnings declined, but cost-cutting and efficiency gains — particularly from running longer trains — helped the railroad produce a new record-low operating ratio. Operating income fell 9%, to $2 billion, as revenue declined 11%, to $4.9 billion, UP announced on Thursday morning. Earnings per share declined 9%, to $2.01. […]

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Digest: NJ Transit approves $2.6 billion operating budget for 2021

Electric locomotive hauls commuter train through S curve

More Thursday midday rail news: NJ Transit board approves $2.6 billion operating budget NJ Transit’s board has approved a $2.6 billion operating budget for 2021 — a figure representing a 10% increase made possible by coronavirus relief funds. NorthJersey.com reports some $955 in federal CARES act funding will help offset $860 million in revenue losses from decreased […]

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Digest: InnoTrans off until 2022

Thursday midday rail news: InnoTrans trade show scraps rescheduled event, will return in 2022 InnoTrans, the world’s largest rail trade fair, has scrapped its rescheduled 2021 event, citing the constantly changing coronavirus situation and resulting lack of certainty for planning. The every-other-year event in Berlin will next be held on its regularly scheduled dates of […]

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VIA Rail Canada to resume service between Vancouver, Winnipeg

MONTREAL — VIA Rail Canada will resume service on the Vancouver-Winnipeg portion of the route of its flagship train, the Canadian, as of Dec. 11. In a Tuesday press release announcing the service, the passenger operator said it would offer one round trip per week between those cities, while observing health and safety measures including social distancing, […]

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