RTD
RTD on Nov. 21 issued financial results for the third quarter of Fiscal Year 2025, ending Sept. 30, 2025. While total revenue rose to $321 million, up $41 million or 15%, from the same period last year, it fell short of budget projections by $21 million or 6%, according to the transit agency.
RTD reported a net position decrease of $77 million, which was $47 million lower than the prior year but $58 million or 43% better than budget.
Excluding the impact of East Colfax Bus Rapid Transit (BRT) passthrough to the City and County of Denver, RTD said third-quarter revenue came in at $298 million, up $18 million or 7% year-over-year. The net position decline, excluding the impact of East Colfax BRT, was $79 million, down $50 million from third-quarter 2024, according to the agency.
Sales and use tax revenue remained flat at $223 million, missing budget by $11 million (5%), RTD said. “Fare revenue was $16 million, down $1 million (6%) from the prior year, despite a 4% increase in ridership to 17.0 million,” it reported. “Notably, 38% of the 622,000 additional riders were attributed to a revised counting method on the A Line.”
“Demonstrating good stewardship of taxpayer dollars is paramount for any public servant,” RTD General Manager and CEO Debra A. Johnson said. “In the third quarter of 2025, RTD navigated rising costs and tax revenue that was lower than expected while also recognizing several notable gains that contribute to a welcoming transit environment.”
In related developments, RTD earlier this fall proposed a $1.3 billion budget for FY 2026 and released a draft of its comprehensive 2025 Finishing FasTracks Report, outlining the $1.6 billion capital and operating costs needed to complete the 2004 voter-approved transit expansion program, as well as revenue and ridership projections for the four unfinished corridors.
TriMet
The last Type 6 MAX LRV (light rail vehicle) arrived Nov. 20 at TriMet’s Ruby Junction Rail Operations Facility, completing the transit agency’s order for 30 vehicles from Siemens Mobility.
Before it begins service next year on the MAX Blue, Green, Orange, Red and Yellow lines, the new Type 6 S700 low-floor LRV will undergo weeks of testing, including logging at least 3,000 miles out of service, according to TriMet, which provides MAX light rail, WES commuter rail, bus, and LIFT paratransit services across 533 square miles of Oregon’s three most populous counties (Multnomah, Washington and Clackamas). The agency rolled out the first Type 6 in January 2025. All Type 6s are now on site; 22 are in service, accounting for approximately 15% of the total MAX fleet.
TriMet’s original 26 Type 1s have been in continuous operation since MAX service began in 1986, and some have logged more than 2 million miles, according to the agency.
TriMet will continue to operate the Type 1s until all the Type 6s have entered service. While most of the Type 1s are being recycled, one—No. 101—has already been donated to the Oregon Electric Railway Museum in Brooks, Ore.
“The new trains join TriMet’s existing fleet at a pivotal time, with the full completion in August 2024 of the multi-year Better Red MAX Red Line Extension and Improvements project, along with several other MAX system improvements,” the transit agency reported. “Many of these have taken place along older sections of the system, including the installation of an improved wire-tensioning system at several locations. They also include the full renovation of the NE 82nd Ave MAX Station platform, which we expect to reopen by the end of the year.”
TriMet in 1997 was the first North American transit agency to deploy low-floor LRVs with the Type 2 SD660 from Siemens. Since then, Siemens has supplied every MAX LRV: The Type 3 (also SD660) in 2003, Type 4 SD70 in 2009, Type 5 S700 in 2015, and now the Type 6 S700.
Separately, TriMet recently announced that it is completing a round of organizational changes as part of its ongoing effort to “address a significant structural budget gap and bring staffing levels in line with revenue.” The agency in June adopted a $1.96 billion overall budget for FY2026; the agency said it was taking steps to address a $50.2 million deficit projected for next fiscal year, “tightening spending ahead of a fiscal cliff projected in 2031.”
VIA Rail
VIA Rail on Nov. 21 marked a milestone at Vancouver’s Pacific Central Station (1150 Station St., Vancouver): the 70th anniversary of The Canadian, which connects riders from Toronto to Vancouver.
VIA Rail held a free event for the public on Nov. 22, featuring family activities, historical exhibits, and opportunities to meet the VIA Rail team that runs The Canadian. It also posted online an article of employee stories from the train’s service history.
“For 70 years, The Canadian has given Canadians a chance to slow down and experience the beauty of this country in a way that no other journey can offer,” said VIA Rail President and CEO Mario Péloquin, who was a featured speaker at Railway Age’s Next-Gen Rail Systems conference, which was held last month in Jersey City, N.J. “It has sparked countless memories: children seeing the mountains for the first time, families crossing the country to be together, strangers becoming friends over coffee in the Skyline car. Its legacy is carried not only by the steel of the rails, but by the people and the stories it connects.”
This anniversary celebration comes as VIA Rail embarks on what it calls “the most significant modernization in its history, supported by the Government of Canada’s 2024 commitment to fund a new Pan-Canadian fleet.” In 2024, VIA Rail launched a competitive procurement process to identify suppliers for the new locomotives and intercity passenger cars that will replace its Long-Distance, Regional and Remote (LDRR) fleet. VIA Rail said it expects to announce the selected partners in early 2026. “This transformative initiative will deliver a modern, comfortable, accessible, and sustainable travel experience, ensuring that the legacy of The Canadian continues and that, within the next decade, all VIA Rail trains will be renewed across the country,” the Crown Corporation said.
Separately, VIA Rail in July celebrated the completion of its Halifax Station renovation project, part of a C$80 million investment to upgrade four “heritage” stations, and more than a century of continuous service by The Ocean, the country’s oldest named passenger train, which runs in Atlantic Canada from Halifax to Montreal.
