London’s transport authority could declare bankruptcy if the government does not provide support for it in a matter of days, Sadiq Khan’s office has warned.
Transport for London (TfL), which funds most of its operations through fare revenue, saw its income collapse during the pandemic because of a sharp reduction in passengers. The government provided a series of short-term funding deals to keep the public body afloat but the latest one ran out at midnight on Friday without an extension being agreed.
