LONDON: London's transport operator, which has seen a big drop in passenger numbers due to the coronavirus outbreak, has secured 1.6 billion pounds ($1.95 billion) of government funding, the BBC reported on Thursday.
Earlier, London mayor Sadiq Khan warned that bus and underground services in the British capital would be cut without urgent government funding to help meet the costs.
Operator Transport for London (TfL) has seen a 90 percent drop in revenue from ticket sales during the seven-week coronavirus lockdown as passenger numbers slump.
It has been paying the £600 million ($731 million, 678-million-euro) monthly operating bill from cash reserves but says the situation is no longer sustainable.
Khan said the operator was legally obliged to balance its books and without emergency funding would be forced to slash services, even as lockdown restrictions are gradually eased.
"We'd have to reduce the bus services we provide. We'd have to reduce the Tube services we provide to save money," he told LBC radio in an interview.
“Being blunt, today is the last day,” Khan said.
“I’m hoping the government today agrees a grant ... but if they don’t, I’m very concerned about the consequences going forward,” he said, “Because we are required to keep two months’ worth of money to pay for services, we’ll have to start reducing services.”
