The setting itself is interesting, because (as Wikipedia just told me) the Carmelit used as the setting in this film is Israel's only subway. It's on a slight incline, so the subway station and cars themselves are custom-designed specifically for that line, and they are never quite horizontal, due to the varying geography. This fixes the location of the film in Israel, although the French announcements, and English and German signage are probably there to make you think this is taking place in Europe, or some generic big-city subway. Anyway, I love the cars, but knowing that it is in Israel does harm the plot somewhat because almost all of the characters would have behaved differently.
The guy already seated is reading an Arabic-language newspaper, with a photo of some demonstration or riot (it goes by too fast to tell). The guy who just got on the subway has a Star-of-David necklace, and makes a point of jostling it so that the newspaper guy notices. This might be taken a number of different ways (including cruising) but I think the intent is that these two guys are not happy to be on the same train, probably because one is an Arab or Muslim and the other is Jewish, each holding some prejudices about the other, but they tolerate each other's presence.
The duo's subtle stare-off is interrupted by a group of Nazi skinheads, who deface the newspaper and intimidate that guy. The necklace guy has hidden his necklace, so he escapes confrontation, until his phone rings, exposing his Hava Nagila ring-tone.
The two escape violent attack by running and exiting opposite sides of the car, but each has the other's bag. They throw each other their bags, and their attitudes have completely changed, from this shared experience escaping from a common enemy. They leave separately, but exchange a smile.
Nothing to do with this short, but I found it interesting to learn that there has been at least one report of home-grown Nazi skinheads in Israel, since this film was made.