Transport For London Crossrail revenue forecast update (0980U)
November 20 2019 - 7:49AM
UK Regulatory
TIDM40CT
RNS Number : 0980U
Transport For London
20 November 2019
Transport for London ("TfL")
20 November 2019
Crossrail revenue forecast update
Further to Crossrail Limited ("CRL") recently advising TfL of
projected delays in the opening of the Elizabeth line, TfL has been
working on modelling scenarios in relation to potential passenger
revenue impact.
On 8 November 2019, TfL announced that CRL's latest assessment
was that the opening of the central section will not occur in 2020,
but that the Elizabeth line will open as soon as practically
possible in 2021. A more comprehensive update is expected early in
2020.
While awaiting further clarity on the opening dates, TfL has
been modelling the potential impact on forecast revenues,
consistent with the scenarios used for the additional capital costs
announced on 8 November 2019. The approximate reduction in forecast
revenues compared to TfL's 2018 Business Plan is expected to be
between GBP500m and GBP750m spread across the next four financial
years, with most of the impact forecast in 2021/22 and 2022/23.
These current revenue impact assumptions will be fully addressed in
TfL's 2019 update to its Business Plan, which is due to be
published in December.
TfL continues to keep the Mayor of London and TfL Board
regularly updated.
For further information, please contact:
Transport for London
55 Broadway
London SW1H 0BD
Email: GroupTreasury@tfl.gov.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCFEAFDSFUSELF
(END) Dow Jones Newswires
November 20, 2019 08:49 ET (13:49 GMT)
Transport Ldn5% (LSE:40CT)
Historical Stock Chart
From Apr 2024 to May 2024
Transport Ldn5% (LSE:40CT)
Historical Stock Chart
From May 2023 to May 2024
