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Transport for London to suffer £1bn in lost revenue due to Crossrail delay

Thursday, May 2, 2019

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According to a ratings agency the delay to the Crossrail will cost Transport for London (TfL) £1bn in lost revenue.The Elizabeth Line was slated to open in December 2018, however last week the Crossrail bosses announced its opening by March 2021.

 

It’s vital elements are yet to be completed which includes key stations and testing software for the new trains.

 

Originally the Elizabeth Line, which runs trains at high speed east to west through London’s central core, was supposed to open five months ago.

 

Moody’s research mentioned that the two-year delay to Crossrail would exert significant pressure on TfL’s operating budget between 2020 and 2022.

 

A high-speed link from Heathrow and Reading through central London to Abbey Wood and Shenfield will be created for the west-to –east service. From Paddington to Abbey Wood the first phase will be running.

 

It is expected that the trains will stop at Bond Street due to design and delivery changes as per the executives, even though the project’s central section opens.

 

 

Crossrail Ltd is a part of TfL mentioned that the full line would be operational as soon as possible after that.

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