I've glanced through the report and several things stand out:
1. There's no modelling of underlying demand patterns on any route. It could be that some routes are underperforming because current service patterns don't align with customer demand.
2. The report doesn't make the connection between signalling infrastructure and running costs on lines such as Limerick Junction - Waterford and Limerick - Ballybrophy.
3. There is no consideration of any alternative plan other than closure for lines which are underperforming.
4. IE appear to be overegging the pudding somewhat - I am surprised that the Kilkenny signalling already needs replacement while I would like to see how those electrification workers are doing on the Nenagh branch. Plus they aren't even utilising the correct cost metrics i.e. cost per passenger/km.