Rail mode share in Toyama, Japan, is only 4.2%--nonetheless, the Toyama Chiho Railway manages to operate there at a profithttps://twitter.com/uncriticalsimon/status/940627498131435520 …
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Tokyo had profitable railways back in the 70s, too, of course. If London has the same kind of mode share today, why aren't its railways turning a profit?
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