TfL expecting £500m loss due to coronavirus

Covid-19 News | Economy & Politics | Latest News | South East | Transport & Distribution

Transport for London (TfL) has revealed that the coronavirus outbreak could cost the company up to £500m in lost income and will be asking the government for financial assistance.

Simon Kilonback, TfL’s chief finance officer, said: “Our best forecast, based on government scenarios, is that the financial impact of the coronavirus could be up to £500m.

“We manage our finances prudently, and have reduced our deficit hugely in recent years. This means that we can manage the impacts on our passenger numbers and finances that are currently envisaged. But, given the nature of the situation, we will be looking to the government to provide appropriate financial support.

“We continue to follow and communicate Public Health England advice, including that there is no specific risk on public transport. We’ve also stepped up our cleaning regime from the already very high standards to give our customers and staff further reassurance.”

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