Depends what you class as a "Railway", all the Train Operating Companies are

guaranteed an income...

When franchises are put out to tender by the government, the bidding companies are often required to set out a 'target revenue' - how much money they expect to bring in from operating the franchise. If they fall substantially below this target (after the 4th year), the government bails them out with support. If they substantially exceed the target, they have to pay back the government, vice versa. It's known as 'cap and collar'.

Posted By: Vivid Data Shark, Aug 10, 16:04:54