London Transport to Receive $2.3 Billion in Government Aid
Bank underground station in London.
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Transport for London said it agreed with the U.K. government on roughly 1.8 billion pounds ($2.3 billion) of emergency funding as the prolonged impact of the coronavirus pandemic continues to hurt revenue.
The deal with the Department for Transport runs to the end of the fiscal year in March and is subject to the passenger revenue levels assumed in TfL’s revised budget, and could increase if actual revenue is lower.