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AVE train or Vueling air

Hi, I'm traveling from Madrid to Barcelona on Oct 13 and saw two options:
1. AVE train at USD$159 for almost 3 hours in duration or
2. Vueling air at USD$ 60 for a little more than one hour in duration.

My question is why is airfare a lot LESS than train and how reliable is Vueling in terms of on-time departure and safety records?


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