Tren Maya Posts 4.29 Billion-Peso Operating Loss in First Nine Months of 2026

Mexico City — The Tren Maya rail project is still struggling to get on track. Revenue from ticket sales has grown since the service opened, but cumulative figures through the third quarter of 2026 show a deterioration in sales and an operating loss of 4.29 billion pesos.

The loss works out to an average of 15.7 million pesos a day, according to financial statements reported by El Financiero.

The Tren Maya, a state-owned company controlled by the Mexican Army, took in 356 million pesos from ticket sales between January and September across the routes it operates. That figure is 8 percent lower than in the same period a year earlier.

Costs Climb as Tourism Slumps

A tourism slump in southeastern Mexico and weaker demand from foreign visitors are weighing on the balance sheets of companies across the sector, and the Tren Maya is no exception.

As revenue fell, operating costs rose. The company reported operating costs of 4.647 billion pesos through the third quarter, up 39.8 percent from the same period last year.

In other words, the railway earned less and spent considerably more to keep running.

The federal government has had to dramatically increase subsidies. The Tren Maya draws on two main sources of public money, both tied to the federal budget and to the collection of visitor fees.

• Budget subsidies rose 135 percent in the first three quarters of 2026 compared with the same period a year earlier, with the government injecting 2.764 billion pesos into operations.
• A trust funded by the Non-Resident Fee, a charge levied on foreign visitors, transferred an additional 1.879 billion pesos to cover insufficient revenue.

All told, the federal government sent 4.643 billion pesos to keep the Tren Maya operating during the first nine months of the year.