Transport for London Gets Extension of UK Government Funding and Financing

By Anthony O. Goriainoff

Transport for London said Friday that its funding and financing agreement with the U.K. Government's Department for Transport has been extended to July 13.

TfL--a local government body responsible for the transport system in Greater London--said on Feb. 25 that it had agreed to a fourth funding-and-financing package for the period running from Feb. 26 to June 24. It said then that this would help mitigate revenue lost due to reduced passenger numbers amid the coronavirus pandemic.

TfL said at the time that it would receive income equivalent to 1.62 billion pounds ($1.99 billion) in passenger revenue over the fourth funding period in addition to an extraordinary support grant of GBP200 million.

Write to Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

06-24-22 1209ET