Public transport will always be a loss business if you want to serve all areas and not just the rich. Private companies are always going to try to make as much profit as possible, this includes profit over safety if they can get away with it.
What we need is a reorganization of the public transport sector with competent long term planning and the funds to achieve it.
But as long as corruption, incompetence, cronyism and a complete lack of the public willing to pay for it. It won't happen.
Japan's train system is the envy of the world and is privatized. There are at least 10 different companies running public transportation in Tokyo alone. 3 to 5 in Kyoto.
The majority of the NYC subway system was built by private companies, just FYI. The city acquired the privately owned systems in 1940 and unified them into the single system we have today.
What we need is a reorganization of the public transport sector with competent long term planning and the funds to achieve it.
But as long as corruption, incompetence, cronyism and a complete lack of the public willing to pay for it. It won't happen.