Just two S-Bahn services in Canton Zurich turn a profit, new data from the local transport association ZVV has revealed. In some cases, train tickets only cover 14 percent of running costs.
Despite catering to 655 million passengers a year as of 2023, ZVV still runs a sizeable deficit. According to their latest data, quoted in the Tages-Anzeiger, ZVV reported an operating loss of 383 million francs in 2023.
Just over half of the bill was footed by Zurich itself, while the rest was paid by other local councils in the region. What's more, ZVV forecasted that by 2029, its deficit will rise to 514 million francs a year, despite increasing passenger numbers.
In explaining why deficits are so high, the data reveals that only two of Zurich’s 52 different S-Bahn routes break even, and only one made a significant profit. In first place was the S12 fast service from Zurich to Winterthur via Stadelhofen and Stettbach, which covered 133,7 percent of its running costs through transport tickets in 2023.
By contrast, the S16 train from Zurich HB to the airport was the only other route able to break even in 2023, covering 100,6 percent of its own costs. The rest have to be subsidised, with the S5 (Zurich to Pfäffikon SZ via Uster), S2 (Zurich Airport to Zurich HB) and S4 (Zurich to Sihlwald) being the only other lines to cover over 90 percent of their running costs through passengers.
By contrast, the least profitable line on the network was the regional S22 service between Schaffhausen and Jetstetten in Baden-Württemberg, which only covered 14 percent of its running costs in 2023. The S21 (Zurich to Regensdorf-Watt via Oerlikon, 25,5 percent), S29 (Winterthur to Stein am Rhein, 27,7 percent), and S20 (Uerikon to Zurich Hardbrücke, 27,9 percent) were also particularly unprofitable.
When it came to the 270 different bus routes in Canton Zurich, line 531 between Bülach and the airport was the most profitable, covering a whopping 176,5 percent of its costs. Eight other lines were able to make profits in 2023, with the 816 (Uster station to Pfannenstielstrasse 164,9 percent) and 520 (Embrach-Rorbas station to Zurich Airport, 138,4 percent) ranked as the second and third-best earners.
By contrast, the four-time daily 133 bus between Horgen station and Horgen Panorama covered just 6,3 percent of its costs in 2023. The 534 and 533 buses to and from Niederhasli rounded out the bottom three, covering just 8,9 percent of costs each.
Responding to the Tages-Anzeiger, ZVV said those in remote areas with unprofitable services shouldn’t worry about cuts. While they are looking to expand services in areas with bottlenecks, it shouldn’t come at the expense of other lines. In addition, they noted that the network is profitable enough - overall, the ZVV paid for 65,3 percent of its running costs through profits in 2023, well over its 60 percent target.
Finally, they argued that cutting lines on the basis that they are unprofitable is the wrong approach, especially at a time when more people need to start using public transport to achieve Switzerland's climate targets. ZVV concluded that having more lines boosts the "network effect, the interlinking and the attractiveness of the overall system."
While ZVV are satisfied with profits, the cost of public transport in Switzerland remains a hot-button issue. Back in 2024, the Official Swiss Price Monitor noted that you have to go back to the 1990s to find a time when taking public transport was cheaper than driving. A similar study by LITRA found that while the Swiss railways are “value for money”, the country is one of the few where ticket prices have risen in the last decade.
On the other hand, the Association of Public Transport in Switzerland has predicted that ticket prices will have to rise by 30 percent by 2035 if nothing is done to bolster funding. They argued that if providers are to increase and maintain quality services in line with the government's targets, more money needs to be provided from somewhere.
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