Local Transport Today is the authoritative, independent journal for transport decision makers. Analysis, Comment & News on Transport Policy, Planning, Finance and Delivery since 1989.

Tube Lines is in sound financial health. We are not Metronet

Terry Morgan, Chief Executive Officer, Tube Lines, London
10 October 2008
 

I refer to your article (Transit September 12) headlined ‘Tube Lines following same fate as Metronet as £2bn shortfall revealed’. I can confirm that Tube Lines is in sound financial health and has no intention of following the fate of Metronet. Our strong financial performance, record of delivering improvements on our lines, and the PPP Arbiter’s initial assessment of our base cost estimates going forward show that we are providing value for money while operating a...

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