The Anonymous Widower

TfL To Sell And Lease Back Elizabeth Line Fleet To Finance New Deep Tube Trains

The title of this post is the same as this article on Global Rail News.

Transport for London (TfL) is under financial pressure for various reasons and desperately wants to order new trains for the Piccadilly Line.

  • The current 1973 Stock trains entered service in 1975.
  • 87½ six-car trains were originally ordered.
  • Train technology has moved on in over forty years.
  • The new trains will be walk-through, lower-weight, energy efficient trains with air-conditioning and wi-fi.
  • The trains may have batteries to handle regenerative braking and power failures.

When the 1967 Stock trains on the Victoria Line were replaced, the new fleet had a similar number of 2009 Stock trains.

So will TfL order 87½ trains again?

According to the November 2017 Edition of Modern Railways, this is proposed.

  • Ordering a hundred trains.
  • Installing new signalling.
  • Increasing frequency from 24 to 33 trains per hour.

This would give a capacity increase of 60 %.

The five pre-qualiofied bidders were Alstom, Bombardier, CAF, Hitachi and Siemens. However since this was announced, the following has happened.

  • Bombardier and Hitchi are submitting a joint bid.
  • Alstom and Siemens have merged their rail transportation businesses.

As the order could lead to a total of 250 new trains, I suspect competition will be keen.

I can understand why, TfL are leasing the Crossrail trains to raise money for the purchase.

I would assume that TfL will lease the new Piccadilly Line trains, just like they lease the London Overground trains.

Some might think, that the trains should be purchased outright!

That means TfL would need to raise a lot of money up front.

  • What also helps is that trains are an asset that last a long time, with many still being in peak condition at forty years old.
  • So institutions with large amounts of cash assets like Pension Funds find trains a good place to use money to create an income for beneficiaries.
  • Given that rolling stock and especially electric trains are good for the environment, it could be considered an ethical investment.

Various models are used by different transport authorities, with Merseyrail actually buying the trains and then leasing them to the train operating company.

January 15, 2018 - Posted by | Transport | , , , ,

1 Comment »

  1. I try my best!

    Comment by AnonW | January 21, 2018 | Reply

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