What is wrong with this picture

From WaPo Reduced Rail Hours Among Possible Cuts
And, from December 2008,
New Ridership Record Shows U.S. Still Lured to Mass Transit
More demand and a large fixed cost, low variable cost operation should lead to low marginal costs per additional rider and more revenue. External factors (more demand, declining petroleum costs) should make the deal even easier. WMATA raised fares last year.
Why can’t WMATA make the math work? Is there a management problem?