Class 345 lease could help fund 1973 stock replacement

Crossrail Update

Transport for London is planning to sell and lease back the new trains for the Elizabeth Line to part-fund a new fleet of trains for the Piccadilly Line.

The move was revealed at a meeting of the London Assembly Budget and Performance Committee on 3 January when TfL interim Chief Finance Officer Simon Kilonback responded to a question by London Assembly Member Caroline Pidgeon. She had asked him to explain an £875 million capital receipt included in TfL’s 2018-19 budget.

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