Monday, November 16, 2009

New York MTA rail ridership sags

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The New York Metropolitan Transportation Authority has released ridership figures showing that all three of its rail operating agencies lost ground in this year's first eight months.

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Metro-North Railroad posted the biggest loss, with ridership during the January-August period declining 6.84% to 51.5377 million. The Long Island Rail Road fared a little better, counting 55.486 million riders, a 5.2% decline.

New York City Transit's subways carried 1.042 billion riders, a drop of 3.1%.

While Metro-North had the worst performance in ridership, it was at the top of the class financially.

MTA measures financial performance in two ways. The operating ratio states the percentage of operating costs covered by fares. The farebox recovery ratio states the percentage of fully allocated costs covered by fares.

Metro-North had an operating ratio of 54.1%, followed by NYC Transit with 50%, and LIRR with 43.7%.

The farebox recovery ratios were: Metro-North, 39.2%; NYCTransit, 34.8%; and LIRR, 28.9%.