Airline veteran Richard Anderson to head Amtrak

Amtrak  MGN

Penn Station's owner and operator, Amtrak, on Monday announced that it has a new president and chief operating officer.

Amtrak on Monday named a former Delta Air Lines (DAL.N) chief executive as its next president and CEO as the US passenger rail carrier makes major repairs at its busiest USA hub.

As part of the transition, Anderson and Moorman will serve as co-CEO's through December 31, officials said. In 2018, he expects to remain affiliated with Amtrak as an adviser. "Richard stuck his hand up", Moorman said.

The CEO of Amtrak is stepping down at the end of the year.

Former Delta CEO Richard Anderson will become the new president and CEO of Amtrak. Anderson's management at Delta secured his reputation as a man who understood transportation businesses, and someone who could turn around an ailing company.

Anderson also worked in the legal division at Continental Airlines and was a former country prosecutor.

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In 2008, Anderson and his team are credited with navigating Delta and Northwest, both fresh out of bankruptcy, through one of the smoothest airline mergers in recent memory.

Moorman described Anderson as a "best-in-class industry leader who isn't afraid to face challenges head-on". "He's creative and thoughtful and will go find the answers to problems".

In an interview, Moorman said that being able to attract a leader of Anderson's caliber signals that, "Amtrak has a great future ahead of it".

Moorman's tenure has been dominated by Amtrak's troubles in the New York City region.

Amtrak spends about $300 million a year keeping the Northeast Corridor in good fix, but the need is between $700 million and $900 million. That arrangement is created to help Anderson make the transition from airlines to passenger rail. President Trump's budget has proposed cutting federal funding to all long-distance Amtrak routes except the Northeast Corridor. At the urging of Gov. Andrew M. Cuomo, the MTA last week said it will withhold tens of millions of dollars in payments to Amtrak for the LIRR's use of Penn Station and its tracks in order to recover the cost of its summer plan.

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