Swiss Federal Railways reported record passenger numbers in the first half of this year. With 1.33 million passengers each day, the railway company returned to profit for the first time since 2019.
In the first six months of the year, the Swiss Federal Railways made a net profit of CHF99 million ($112 million), compared with a net loss of CHF142.3 million in the first half of 2022, it reported on Monday.
In March, passenger numbers exceeded pre-Covid 19 levels for the first time. Over the whole period under review, it jumped by 21.4% year-on-year and 3.04% relative to 2019, reaching a level never before recorded.
The company also notes the positive trend in international passenger traffic, with 5.7 million people carried in the first half, 20% more than the previous record for 2019.
I’m questioning if it really should be profitable. A lot of people I talk to are still saying that they would take the train, if it wouldn’t be just so damn expensive. But the high prices feel more and more like a way to control the overcrowding issues than as a fair (or competitive compared to the car) price for transportation.
Exactly this
Ok it’s not bad news that it is profitable but it shouldn’t.
Public transportation is a service and it shouldn’t be profitable by itself. Same with hospitals and so many other institutions.
Eliminate unnecessary costs when possible but aim to provide a service first and foremost and even make it cheaper. I’d gladly pay more taxes to subsidize this. It’s also partly why I just pay for the half fare every year even though I’m not really sure if it pays off. Either I do and it’s a win win or I don’t and it’s not a big difference I’m sure.
I think it would make more sense to include the saved CO2 emissions in monetary value in their earnings, that way the real profitability can be calculated as you say