This is not precisely what you asked for and is several years after you asked, but in the last few releases of ArcGIS Pro, we have been building out a toolbox for working with GTFS data: An overview of the Transit Feed (GTFS) toolset—ArcGIS Pro | Documentation
The Transit Safety and Transit Outreach solutions include layers that model transit lines and stops in ArcGIS. In addition, they also included an ArcGIS Pro project that provides tasks that walk you through importing your transit lines and stops from GTFS.
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