as the boom in railways ended and they began to lose money. Eventually, the entire system came under state control in 1948, under the British Transport Commission's Railway Executive. After 1962 it came under the control of the British Railways Board; then British Railways (later British Rail), and the network was reduced to less than half of its original size by the infamous Beeching cuts of the 1960s when many unprofitable branch lines were closed. Several stations have been reopened in Wales. In 1994 and 1995, British Rail was split into infrastructure, maintenance, rolling stock, passenger and freight companies, which were privatised from 1996 to 1997. The privatisation has delivered very mixed results, with healthy passenger growth, mass refurbishment of infrastructure, investment in new rolling stock, and safety improvements being offset by concerns over network capacity and the overall cost to the taxpayer, which has increased due to growth in passenger numbers. It has also led to some confusion as to who looks after different aspects of the rail service among the general public. This is because, for example, different companies run the tracks to those that run the trains and locomotives. Since privatisation, passenger levels have more than doubled and have surpassed the level they had been at in the late 1940s. But while the price of anytime and off-peak tickets has increased, the price of Advance tickets has dramatically decreased in real terms: the average Advance ticket in 1995 cost £9.14 (in 2014 prices) compared to £5.17 in 2014. Subsidies to the rail industry have slightly increased from £3.7bn in 1992–93 to £3.9bn in 2012–13 (in 2013 prices) but more than halved in terms of subsidy per journey from £4.98 to £2.46. In Britain, the infrastructure (track, stations, depots and signalling chiefly) is owned and maintained by Network Rail, a not-for-profit company. Network Rail replaced Railtrack, which became bankrupt in 2002 following the Hatfield rail crash in 2000. Passenger services are operated by train-operating companies (TOCs), which are franchises awarded by the Department for Transport (in England), Transport Scotland, and Transport for Wales. Examples include Avanti West Coast and East Midlands Railway. Freight trains are operated by freight operating companies, such as DB Cargo UK, which are commercial operations unsupported by the government. Most train operating companies do not own the locomotives and coaches that they use to operate passenger services. Instead, they are required to lease these