Sort of. While not a direct retelling of a specific incident, it incorporates elements and themes drawn from similar real-life occurrences in the subway system.
It's significant because it shows a real - life inspired crime scenario in an urban setting like a subway. It makes people aware of the vulnerability of public transportation systems.
It's about a hijacking incident. A group of criminals hijack a subway train, specifically Pelham 123. They hold the passengers hostage and demand ransom from the city. The story is based on real - life events which makes it even more gripping as it shows how such a situation could play out in a real urban setting.