From TrainSpottingWorld, for Rail fans everywhere
- January 23 - Western Pacific Railroad president R. G. "Mike" Flannery announces that an agreement has been reached for the railroad to be controlled by Union Pacific Railroad.
- January 29 - Milwaukee Road discontinues all service on the Pacific Extension west of Miles City, Montana.
- April 25 - SNCF takes delivery of the first production TGV trainset.
- May - The 150th anniversary of the Rainhill Trials is commemorated with a restaging of the event using replica locomotives.
- August 3 - Amtrak inaugurates the Lake Cities passenger train service between Chicago, Toledo and Detroit to replace the St. Clair.
- August 10 - Amtrak inaugurates the Prairie Marksman passenger train service between Chicago and Peoria.
- October 1 - Amtrak inaugurates the Hoosier State passenger train service between Chicago and Indianapolis.
- October 31 - British Rail discontinues the Night Ferry passenger train service between London and Dover.
- October - The new north-south line from Tarcoola, South Australia, (until then a siding on the Trans-Australian Railway) to Alice Springs, Northern Territory, is opened.
- November 20 - SNCF completes construction on the LGV Sud-Est connecting Paris and Lyon.
- November 30 - Amtrak replaces the "Pleasure Dome" and "Hi-Level" cars on the Southwest Limited with Superliner cars.
- December 12 - MTR in Hong Kong extends the Kwun Tong line to Central station.
- British Rail 0-6-0ST number 8846 is donated to the National Railway Museum.
- New Zealand Railways begins a rebuild program to refurbish ten DB class diesel-electric locomotives into DBR class locomotives.
- Henschel builds the Di 4 class diesel-electric locomotives for Norges Statsbaner.
- GNR Class J13 8846, the first steam locomotive to be privately preserved from British Railways, is donated to the National Railway Museum in York.
- British Rail replaces the Class 27 multiple units with single Class 47/7s at one end of a rake of Mark 3 carriages and a DBSO.
- JR Hokkaido introduces the Lilac passenger train service between Sapporo and Asahikawa.
- New Jersey Transit inaugurates the Pony Express passenger train service between Hoboken, New Jersey and Monmouth Park Racetrack.
- Oslo Sentralstasjon is opened in Norway.