Home Business News TfL makes £4.5bn from ticket prices

TfL makes £4.5bn from ticket prices

by LLB Reporter
2nd Mar 20 12:06 pm

Data gathered and calculated by Learnbonds.com indicates that ticket prices continue to be the leading source of income for Transport for London (TfL). The data shows that during the 2018/19 period, TfL made £4.5bn from passenger ticket prices alone.

During the period under review,  TFL’s revenue from all subsections was £5.6bn, an increase of 5.1% from the 2017/18’s £5.3bn. Under passenger services, The London Underground remained the highest source of income at £2.7bn. Buses generated £1.4bn while rail and Elizabeth’s brought in £528m.

According to the report, “Despite having other sources of revenue, the TfL majorly depends on passenger fares income. ”

Other operations generated an income of £59m followed by central items at £32m. From non-passenger initiatives rent, advertising revenue was £243m.

In running the TfL services, the gross expenditure increased by 1.2% from £6.2bn to £6.3bn. The London Underground had the highest gross expenditure at £2.3bn. Other expenditure came running the buses (£2.1bn), Streets (£539m) and Elizabeth Line was (£245m).

Over the last few years, TfL has been putting in place measures to reduce the cost of running London’s transport system. By 2018/19, TfL had lowered its costs to one third from three years ago. The group is actively cutting costs through maintenance savings and contract renegotiations.

Currently, one of TfL’s top priorities is to adapt to the loss of £700m in funding from the central government.

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