I've carried out a very basic comparison of the relative performance of the TTC and the transit system in Montreal - which I will refer to as the STM.
What I hope will be clear from the following graphs is that the STM has made great strides in efficiency over the last decade: operating costs per passenger have risen at a rate less than general inflation. During the same period, the TTC's cost per passenger have risen faster than inflation.
The first graph shows the per passenger operarting costs of the TTC and the STM. The blue line (in the middle) shows what the TTC's operating costs would have been had they attained the same ratio of productivity improvment (on a per passnger basis) as the STM over that period.
The second graph shows how much the TTC would have saved by attaining the STM's level of improvment - by year. This distiguishes between the initial cost difference ($1.73 vs $1.63) and the relative change during the decade.
The 3rd graph shows the cumulative impact. From 1994-2003, had the TTC achieved the same level of performacnce as the STM, Toronto and Torontians would have saved about $670 million!
The real degradation in the TTC's performance shows in 2000 and onwards. Was there perhaps a management change around that time? (Yes there was.)
Comparison of Costs per Passenger