Transport for London Bids for Metronet
UK transport company Transport for London (TfL) has lodged a formal bid to take control of failed London Tube consortium Metronet, a move which has been welcomed by the country’s largest rail union.
Since its collapse in July, Metronet has gone into Public Private Partnership (PPP) control, creating fears about safety on the Tube network and threatening jobs and pensions.
In a statement released today TfL says it is in the interest of all parties to make an “exit” from administration as soon as possible.
“This is the best way to maintain the continued safe operation of the Tube network and to ensure the continuation of the Tube’s vital upgrade and renewal programme,” TfL Managing Director Tim O’Toole says.
The union of Rail, Maritime and Transport Workers (RMT) welcomed the move, renewing calls for the Tube network to be brought back into public administration.
“Should TfL be successful, the next logical step will be to return Tube Lines to the public sector,” says RMT assistant general secretary Pat Sikorski.
Metronet’s collapse also resulted in transport giant Bombardier Transportation recording a dramatic loss in profits for the second quarter of fiscal year 2008.
Metronet is responsible for the maintenance and renewal of the sub-surface Tube network of Circle, District, Hammersmith & City, Metropolitan and East London lines.