(Bloomberg) --
Passenger journeys on the London Underground have fallen by around 70% and are “likely to fall further,” as Transport for London advises avoiding public transport for anything other than essential journeys due to the spread of the coronavirus.
In a statement on Friday, the London transport agency said it was in “constructive discussions” with the government about how the financial impact of the reduction in its services will be managed.
On Monday, TfL said the impact was difficult to predict, depending on the duration and severity of the coronavirus spread. Its current forecast suggests a reduction of up to 500 million pounds ($590 million) in income.
TfL announced earlier in the week that it would reduce service with the closure of up to 40 London Underground stations as well as the Waterloo & City line.
Journeys on London buses have dropped by around 40%, and are expected to fall further with school closures. TfL said all transport services should be “solely focused” on ensuring critical workers can move around a needed.
TfL's commissioner, Mike Brown, will stay on to lead the body through the coming months, having previously announced in October that he had accepted another appointment outside TfL.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
