I can't quote figures, but I doubt the WCML/Avanti revenue is anything like the 2019 level yet.
My perception is that, for various reasons, it has been one of the poorest performers in getting traffic back.
The drop in business traffic, which was the backbone of Virgin/Avanti services, is very serious.
Using national trends, and equating low margin leisure fares with peak business fares, isn't sensible.
HS2 design was based on running 18tph.
It's unlikely there will be more than half that in the planned Phase 1 state, ie the same 9tph as the existing WCML.
But there will be that much spare capacity Euston-Rugby and on to Birmingham and Lichfield