While Waterloo may have been stripped of previous titles, it still holds a major accolade. With 24 platforms in use, it's the largest train station in the UK. The largest station outside of London is Edinburgh Waverley, with 20 operating platforms.
Trading as British Rail from 1965, the company was privatised between 1994 and 1997 and was succeeded by National Rail. The double arrow logo is still used by National Rail in their brand to this day.
The reasons for this are varied: from the privatisation of the rail industry to the rising cost of infrastructure. The UK does not have fixed rates like other European countries such as France, which can result in flight tickets being cheaper than a regional train journey in the UK.