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VIA Rail Canada Inc.’s financial performance improved during 2011, with revenue growth reported in most markets, VIA Rail officials announced during the railroad’s annual meeting yesterday.

Because of revenue growth combined with “rigorous” cost controls, VIA Rail required $30 million less in government funding for operations before pension costs, railroad officials said in a prepared statement.

“As we move forward, we are on track to achieve significant improvements in VIA's overall performance by 2017, Canada's 150th anniversary,” said VIA Chairman Paul Smith.

As for 2012, weak markets and continued economic uncertainty impacted ridership and revenue in the first quarter, VIA Rail officials said.

“While we faced a challenging first quarter, we are confident that we can meet our performance objectives for 2012,” said President and Chief Executive Officer Marc Laliberté.

VIA Rail’s key initiatives for 2012 include completing capital projects involving trains, tracks, stations and technology, improving service and increasing efficiency through initiatives such as electronic ticketing.