Alaska Railroad back in the black

Alaska Railroad Corp. earned a $22.4 million pro t in 2017 after a loss in 2016, the state-owned railroad corporation said. Overall revenue was up 13 percent while expenses were trimmed 3 percent. Since 2008 the railroad has cut 300 positions including 47 in 2017 to deal with a decline in freight shipments. Strong passenger growth, was a major factor in the 2017 increase in revenues, with 506,000 passengers riding the trains. This is up from 405,000 passengers in 2010, a year when the national recession hit Alaska’s tourism industry hard.

Freight volumes carried on the railroad were up in 2017 thanks mainly to increased gravel shipments to support highway work. About 4.8 million tons of freight were carried in 2017, up from 3.7 million tons in 2016. By comparison, the railroad carried 6.3 million tons of freight in 2010. The railroad issued its annual report April 3.