Hopefully, in a few years, we'll all be able to look back on this perspective and sigh. Rural railways don't lose money, they cost money - just as rural roads do. The cheeseparing and lack of entrepreneurial flair are largely due to the way we choose to view these things: through a neoliberal glass darkly.
I agree, rural railways DO cost money, and within reason this needs to be accepted. Just as rural electricity supply costs money.
I suspect that some rural railways would cost less if they were better run, but a profit seems unlikely.
Run trains at times that people wish to travel, no more nonsense of two trains a day neither of which is at a useful time.
Use suitable rolling stock. This does not need to be expensive, but no more standing on single car units whilst 2 or 3 car units are stored.
Ensure that trains connect with other trains and with buses.
The biggest saving
IMHO▸ would be some sensible relaxing of main line safety standards for lightly used branches.
I am not convinced that all the latest safety standards are actually needed for branch lines.
As an example, if an older type
DMU▸ can safely carry passengers from Bishops Lydeared to Minehead, without
TPWS▸ ,
OTMR▸ ,
CSR▸ and so on, why cant a similarly equipped but SLIGHTLY newer unit also carry passengers on a branch line ?
I also see a future for battery trains and for diesel/battery hybrids, these could be usefully trialed on lightly used rural lines, with a view to wider use.