Talks for a long-term deal continue as the agency struggles with loss of fare revenue during the pandemic.
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TfL has reached an agreement with the government to extend its current financing package until Friday. The emergency funding deal agreed in June last year was again extended over the weekend until February 25. It is the fourth short-term extension to be agreed, with the deal originally supposed to expire on 11 December 2021.
This is the latest in a series of short-term extensions while the transportation agency attempts to reach a long-term agreement.
TfL has repeatedly warned that unless it can achieve a multi-year financing arrangement to restore fares money lost during the coronavirus pandemic, it would be obliged to begin a "managed decline" of the capital's public transportation network.
"We have provided TfL with a deal that both supports London's transport network and is fair to taxpayers across the UK," said Transport Secretary Grant Shapps.
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