Tren Maya
The Tren Maya continues to lose money, and revenue is dropping year over year.File photo

Revenue Down, Losses Up Again for Tren Maya

ByYucatán Magazine

The Tren Maya, or Mayan Train, lost money again in the second quarter of 2026, even as the federal government increased the subsidies keeping the railway running, according to financial reports reviewed by Diario de Yucatán and El Universal.

Between April and June, the project received MX$418 million (about US$24.5 million) in federal subsidies and transfers, 11% more than the same period last year. Despite that boost, the railway reported a net loss of roughly MX$850 million (about US$49.8 million) — some reports put the figure closer to MX$867 million (about US$50.8 million).

The numbers mark a sharp reversal from a year earlier. In the second quarter of 2025, the Tren Maya received MX$377 million (about US$22.1 million) in public funds and still posted a profit of MX$1.07 billion (about US$62.6 million). This year, ticket and service revenue actually fell, bringing in MX$118 million (about US$6.9 million), down 4% from the same quarter last year.

Juan Carlos Machorro, an infrastructure specialist and partner at the law firm Santamarina y Steta, told El Universal that the results point to ongoing operational strain. He said the launch of full freight service has become close to essential if the railway is ever going to turn a profit, a shift from how the project was originally pitched. Gen. Óscar David Lozano Águila, the Tren Maya’s director, acknowledged last year that passenger service alone wasn’t profitable and said cargo operations would be needed to reach a break-even point by 2030.

The line’s legal troubles

Money isn’t the only front where the railway has run into trouble. In February 2026, a federal appellate court granted a definitive injunction covering Tramo 5, the stretch of track between Cancún and Tulum long criticized for cutting through jungle above the region’s underground river system. The ruling doesn’t halt construction outright, but it forces Profepa, Mexico’s environmental protection agency, to step up inspections and conservation measures in the area. Environmental group Sélvame del Tren, which had pushed for the order, called it a meaningful accountability win.

That case followed a separate courtroom loss for the Mexican Defense Ministry, which operates the Tren Maya. In April, a tribunal ruled against Sedena in a dispute with a company that supplied ballast — the crushed stone laid beneath the rails — for Tramo 6, between Chetumal and Tulum. A military official had canceled the supplier’s contract without proper authorization in 2023; the court ordered Sedena to pay MX$86 million (about US$5 million) in damages.

Together, the rulings add to years of environmental litigation the project has faced since construction began in 2020, even as the government continues clearing forest for related infrastructure like freight depots.

El Pueblo Mérida

Tren Maya Facts

  • Q2 2026 revenue: MX$118 million (about US$6.9 million), down 4% year over year
  • Federal subsidies received: MX$418 million (about US$24.5 million), up 11%
  • Reported net loss: MX$850–867 million (about US$49.8–50.8 million), depending on the source
  • Break-even target: 2030, contingent on freight service
  • Tramo 5 (Cancún–Tulum): federal court ordered stricter environmental oversight in February 2026
  • Separate ruling: Sedena ordered to pay MX$86 million (about US$5 million) over a Tramo 6 supplier contract

With reporting from Diario de Yucatán, El Universal, El Financiero and LatinUS, with exchange-rate data from Wise

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