Bob Crow, general secretary of the RMT transport union, said:
"While this report reinforces once again that our railways are nothing more than a multi-billion pound rip-off lining the pockets of a bunch of spivs and speculators, it ducks the real issue and that's the cast-iron case for public ownership.
"You can't have transparency, accountability and value for money while our railways are bust apart and run as a money-making racket for a gang of private operators."
More top news
Black Friday could kick off the biggest ever weekend of shopping in the UK with bargain hunters predicted to spend almost £8 billion.
A commuter is on track to get married after using the information screen at Waterloo station to pop the question.
Parents of an apprentice carpenter who was stabbed to death fear knife crime is "out of control" in the capital.