By Holden Wilen, Reporter, Baltimore Business Journal; April 23, 2020
Amtrak officials said Thursday they consider the redevelopment of Baltimore’s Penn Station to be “critical” and will continue to move forward on the project even as the railroad company suffers a major financial hit due to Covid-19.
Chairman Anthony Coscia said during a teleconference that Amtrak will likely lose $700 million in adjusted operating earnings due to the pandemic, and it’s possible the losses could be greater. Ridership has fallen 95% and Amtrak has temporarily suspended several of its routes while modifying others to deal with reduced demand. Prior to the onset of pandemic, Amtrak had been on track to break even for the first time ever.