Is London Underground Nationalised?

Who owns the London Underground?

Is TfL a government body?

TfL is a statutory body created by the Greater London Authority (GLA) Act 1999. This Act gives the Mayor of London a general duty to develop and apply policies to promote and encourage safe, integrated, efficient and economic transport facilities and services to, from and within London.

Is the London tube a private company?

The underlying services are provided by a mixture of wholly owned subsidiary companies (principally London Underground), by private sector franchisees (the remaining rail services, trams and most buses) and by licensees (some buses, taxis and river services).

Is TfL not for profit?

Transport for London (TfL) is a not-for-profit organisation. Our purpose is to keep London working, growing and to make life in London better. We manage the Capital’s transport network on behalf of the Mayor of London. We receive a very large number of requests to support charities.

Why is TfL so expensive?

‘In London, the operating cost of London Underground is completely covered by fare and other commercial revenue. In other countries, however, the cost is covered by a combination of fares, commercial revenue and government subsidy raised through taxation.

How is the London Underground funded?

Our income and funding comes from a variety of sources, including fares, the Congestion Charge, commercial activities, business rates and borrowing.

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Is London Underground profitable?

London Underground fares were the greatest contribution to overall revenue of Transport for London (TfL). The Tube reported a passenger income of 650 million British pounds in the financial year 2020/21, down from 2.7 billion reported a year earlier.

Is TfL a statutory undertaker?

We are a statutory body created by the Greater London Authority (GLA) Act 1999.

Is TfL a corporation?

We are a statutory corporation regulated under local government finance rules. We are governed by the Greater London Authority Act and have three subsidiary companies incorporated under the Companies Act 2006. Our subsidiary companies are: … TfL Trustee Company Limited.

Who is in charge of Transport for London?

Sadiq Khan, Chair

Sadiq Khan is the Mayor of London and has appointed himself as Chair of TfL. Sadiq was born in London and has lived here all his life. His parents moved to London from Pakistan in the 1960s.