Total revenue decreased by nearly 84% due to the decreased ridership and service adjustments caused by the impact of COVID-19 pandemic.Photo – VIA Rail Canada Inc.
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VIA Rail Canada Inc. reported its passenger revenue fell 86% and ridership decreased 82% in third-quarter 2020 compared with revenue and ridership during the same period a year ago.
Total revenue fell nearly 84% due to the ridership plunge and associated service adjustments caused by the impact of the COVID-19 pandemic, VIA Rail officials said in a press release.
Total operating expenses during the quarter decreased 28%. To manage the negative financial impacts of the pandemic, VIA Rail temporarily laid off unionized, management and professional employees; and reduced advertising, service and administrative costs.
VIA Rail generated Q3 2020 income of CA$7.3 million compared to CA$38.7 million a year ago.
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