Alaska Railroad reports first annual loss since 1994

Posted: Thursday, June 15, 2000

ANCHORAGE (AP) -- The state-owned Alaska Railroad Corp. reported a 1999 loss of $3.8 million. That compares with $9.9 million in profits a year earlier.

Revenues grew 2 percent, or to $82.2 million, with freight accounting for 80 percent of that total.

The railroad's operating loss before adding income from its real estate holdings were $9.9 million.

What the railroad called ''general and administrative'' expenses ballooned to $20 million, up from $8 million a year earlier.

That was due primarily to the $12 million spent cleaning up fuel that was spilled in two derailments north of Talkeetna, the railroad said.

The last time the railroad lost money was in 1994.

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