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TfL’s new six-month Covid-19 bailout could exceed £1.8bn

Funding

16 November 2020
 

The Government has announced a further £1bn-plus bailout for Transport for London to cover lost fare revenues resulting from the Covid-19 pandemic. 

The new package covers the second half of 2020/21 (18 October to 31 March) and is worth £1bn under a central scenario. The agreement allows for the payment to be adjusted to reflect actual passenger demand. 

The £1bn figure assumes that passenger demand in the second half of the year is at circa 65 per cent of pre-Covid...

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