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Transport for London secures emergency £1.8bn bailout

Funding agreement will enable TfL to continue to support the capital for the remainder of the financial year

02 November 2020
Mayor of London Sadiq Khan
Mayor of London Sadiq Khan

 

Transport for London (TfL) has secured a £1.8bn government bailout that will keep Tube and bus services running until March 2021.

The funding agreement means that TfL can address its financial shortfall due to the loss of passengers as a result of COVID-19.

Months of lockdown and advice to the public to only use public transport when necessary have led to a 95% cut in people using the Tube compared to this time last year.

The number of bus passengers has also dropped, by 85%, and...

+94% more

 

 
 
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