Transport for London faces £3bn funding gap despite £1.6bn bailout

Posted by on May 15, 2020 4:46 am
Categories: Global Stories

Full-year forecast suggests TfL will need more help after 90% fall in income from journeys

Transport for London has said it is facing a £3bn finance gap this year owing to the coronavirus pandemic, suggesting it may need more cash from the government despite securing a £1.6bn bailout on Thursday.

TfL, which agreed the bailout deal to keep the business running until October, has reported a 90% fall in income as journeys on public transport in London have dried up during the nationwide lockdown.

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