TfL awards controversial £1bn ‘sale and leaseback’ Crossrail fleet deal to Natwest-backed group March 22, 2019 Transport for London (TfL) has awarded a controversial £1bn "sale and leaseback" deal for a fleet of Crossrail trains to a rail company backed by Natwest and Japan's second largest bank. 345 Rail Leasing, which was set up in January this year and comprises Equitix Investment Management, Sumitomo Mitsui Banking Corporation and Natwest, will own the [...]
TfL slashes £1bn deficit in ‘relentless’ cost-cutting drive but warns of continued economic woes March 20, 2019 Transport for London (TfL) has halved its near £1bn budget deficit thanks to an aggressive cost-cutting drive. The transport body said a "relentless focus on efficiency" and "tight financial management" will help it to get the £968m deficit – partially caused by the loss of the government grant and Sadiq Khan's fare freeze for single journeys – [...]
Crossrail opening delayed until 2022 and extra £1.1bn needed to finish project August 21, 2020 The opening of London’s new Crossrail underground line has been delayed until 2022 and an extra £1.1bn is needed to complete the project, Crossrail Ltd said today. Crossrail said the central section of the Elizabeth Line between Paddington and Abbey Wood will be ready to open in the first half of 2022. Crossrail has faced [...]
Alstom set for green light for €6bn Bombardier rail deal July 27, 2020 French giant Alstom is set to get approval from the EU’s competition watchdog to buy Bombadier’s rail business, paving the way for the creation of the world’s second largest rail firm. Reuters reported that regulators were set to give the deal the go-ahead after Alstom made a number of concessions due to antitrust fears. In [...]
London snow: TfL ‘working around the clock’ to avoid travel disruption January 28, 2019 Transport for London (TfL) has outlined “well-rehearsed” procedures to “keep the capital moving” ahead of expected snowfall in London and the south-east from tomorrow night. It comes as the Met Office issues a yellow weather warning for “possibly heavy” snow developing overnight on Tuesday and into Wednesday, with accumulations of up to 3cm expected across [...]
Coronavirus: London mayor Sadiq Khan calls for face masks on Tube April 17, 2020 London mayor Sadiq Khan called on the government today to make coronavirus face masks compulsory for people using the Tube or shopping. The mayor said that evidence from around the world was that face coverings help stop the spread of coronavirus. New York has ordered residents to wear masks or substitute face coverings when in [...]
Crossrail opens from Reading to Paddington December 15, 2019 Commuters will now be able to travel from Reading to Paddington in 58 minutes, after a limited section of Crossrail opened yesterday. The new line, under the banner of TfL Rail, marks the largest opening of any part of the Crossrail project, which was supposed to open in December 2018. Read more: TfL updates Tube [...]
London coronavirus lockdown: Which Tubes and buses are still operating? March 24, 2020 Boris Johnson’s address to the nation last night confirmed what many had thought inevitable. From today, the UK is under a police-enforced coronavirus lockdown, with people only allowed to go outside for a limited set of reasons. Public meetings of more than two people have been banned, while all stores deemed non-essential have been forcibly [...]
London bus drivers threaten strike action January 6, 2020 Londoners could face more travel chaos in the new year as 20,000 bus drivers are threatening to strike. Unite is preparing to ballot its members to decide if industrial action is taken over complaints of “chronic levels” of fatigue among bus drivers. Read more: RMT pledges to fight Tory plans for ‘minimum service’ during strikes [...]
Sadiq Khan admits empty offices are a ‘big problem for central London’ August 13, 2020 Sadiq Khan has warned for the first time that empty offices in central London are causing a “big problem” for the economy. The mayor of London admitted that small businesses were struggling with the dramatically reduced footfall as huge numbers of people continue to work from home. He urged big firms to reconsider decisions to [...]