Safety Incidents and Operational Disruptions: The risk of derailments, accidents, or other operational events leading to fatalities, injuries, property damage, environmental contamination, regulatory fines, and reputational harm, disrupting service and increasing costs.

Economic Downturns and Freight Demand Fluctuations: The risk that broader economic recessions, industry-specific slowdowns, or shifts in supply chain dynamics will reduce demand for freight transportation services, leading to lower volumes and revenue.

Regulatory and Political Scrutiny: The risk of new or stricter regulations, increased enforcement, and intensified political pressure following high-profile incidents, leading to higher compliance costs, operational restrictions, and potential liabilities.