The Alaska Railroad was back in the black in 2017 with a $22.4 million profit after 2016 saw its first net loss in more than 15 years.
The state-owned railroad corporation increased its overall revenue by 13 percent last year while cutting expenses by 3 percent, according to its 2017 Annual Report issued April 2.
Alaska Railroad CEO Bill O’Leary said the improved financials are the result of the railroad’s resolve to forge ahead through making difficult but necessary decisions.
In February 2017 O’Leary announced the railroad would be eliminating 49 positions as part of an internal restructuring effort to save $5.7 million. Since 2008 the railroad has eliminated more than 300 year-round positions as freight business has declined.