。
The train schedule is running late.
Literal
Train [of-の] timetable [subject-が] is-running-late.
Here the ダイヤ ('timetable') itself is what's late — a slight abstraction by metonymy: the schedule is late, not the individual train. The contrasting set phrase ダイヤ通りに動いている ('running on schedule') uses the same noun differently. 遅れています is polite ~ている for the ongoing state.