This thesis investigates the use of optimization techniques to determine the value of multimodal (Air+Rail) networks. By using Mixed Integer Linear Programming (MILP), the mathematical model derived especially for this use case determines the optimal way for airlines to route their passengers on ultra-short haul networks. The model does not only consider operational costs, but also addresses the importance of sustainability and the value of time, and includes the value to be found in capturing passengers at cities where there is no airport in the near vicinity. This research demonstrates that by (partially) routing passengers on rail networks, rather than air, flights can be reduced on the short haul network. This results in higher profit, shorter average travel times and reduced average emissions, all whilst capturing a larger market. This research contributes to the knowledge on multimodal air+rail transport by showcasing the potential benefits it can have for airline alliances in a quantitative way, incentivizing airlines to shift towards rail partnerships for their ultra-shorthaul network and adopting more sustainable practices.