The Anonymous Widower

Aberdeen Standard Backs Controversial £1bn Bid For Crossrail Fleet

The title of this post, is the same as that of this article on City AM.

This has been mooted for some time and I believe that Transport for London are taking a sensible action to help get round their funding crisis, caused by three factors.

  • The loss of Government subsidy.
  • The lateness of Crossrail.
  • Sadiq Khan’s bribe to the electorate of a fare freeze.

I also think, that this will be advantageous to London in the long term.

This is a paragraph in the article.

TfL would be able to terminate the 35-year lease in 2020, 2025 and 2030, through a break clause, with an ability to acquire the fleet for just £1 in 2044. TfL will announce the winner at the beginning of next year.

Depending on how TfL’s finance progress in the next few years, the break clause may allow them to cancel and acquire new trains, if they felt it best.

But all these trains need a rebuilding at someyime around twenty years old and this will surely be the responsibility of the leasing company.

December 17, 2018 - Posted by | Finance, Transport | , ,

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