How much is the UPX losing? $122,000 a day.

A detail from Adrian Morrow allows us to estimate with accuracy the least amount of money the UP Express is losing. It’s a lot: $122,000 a day, or $45,700,000 a year—and that is a very conservative estimate.

Morrow says that the train costs $68,000,000 a year to run, and we know that about 803,000 people take it a year. If each passenger pays the full fare, $29¹, then the train generates $23,287,000 in revenue every year. Subtract the latter from the former, and you get a $45,649,000 loss.

That means that moving each passenger costs the province about $56.

¹ This is the conservative part: many people use the discounted Presto fare. Some people do not take it all the way to Pearson; others do not start at Union.