Not referring to any comments you've made, but also some people seem to think reaching 100% passenger numbers compared with 2019 is "job done". It's not.
Given that service cuts have already been made, the balance between income and expenditure should be restoring. As it's not, a fares review needs to take place to see why revenue is down, and to find ways of restoring it. That might involve reducing the extortionate Anytime fares, in other places it might mean reviewing the availability of Advances (Northern's short hop ones for a start), it might also involve reviewing revenue protection and increasing the number of barriered stations and/or extending hours (I know one TOC that has done the latter and recouped thousands, easily covering the cost of the extra staff).
Ah, those blinkers.
You really should have read the methodology that I took the trouble to post above before commenting...
Even with an ingenious methodology, it's still only an educated guess. As I said earlier, the fact that the Liz Line has grown the market substantially should be used as a reason to improve other services, not a reason to cut them back. For an analogy, look at the way that BR would make services deliberately unattractive so that no one used them and they could close with less fuss.
London and SE traffic is still lower than pre-pandemic even with Elizabeth Line, and yet the data is being used to justify cuts where there’s regional growth elsewhere!
This is a key point. Only publishing these figures on a national basis doesn't provide any distinction between an LSE operator which could stand to lose a few peak extras, and a regional/IC operator that has wedged trains. We all know that there is potential for a huge amount of growth at XC where lack of capacity and the consequent pricing-off of demand has strangled growth. TPE too had the chance to grow considerably once its wedged three-car 185s were replaced by the five-car Nova fleet. Sadly mismanagement has led to that being squandered. Elsewhere TfW are increasing their fleet by 50%.
The Liz Line isn't the only example of how service improvements have grown traffic. Look at the Blackpool services where electrifying the line and replacing ropey 150s with 331s has resulted in considerable growth, such that six car sets now dominate. We should be sticking capital in and upgrading our network, not cutting back.