Yes it will be very interesting to see how pvt investors will proceed...
1. In land there will be Road transport which is cheaper in many cases than trains.
2. There will be IR trains with no flexi-fare like normal Express, mail, superfast
passenger trains.
3....
more... Also yes in many routes Airfares are quite cheaper nowadays.
Now these pvt trains will have to give facilities to passengers and also pay IR for electricity and other ma charges, also have to pay their train staffs salary...and for all .these they have to increase tkt prices as flexi-fare and if ticket prices they increase more then for passengers above 3 options are already available as alternative. So, it will be tough challenge to pvt companies and also very interesting to see what happens ......