Boris Johnson today faced pressure to overhaul Thames cable car ticketing “urgently” as it emerged that the project faces a financial black hole.
Transport for London figures revealed that income from fares in the second quarter of the 2013/14 financial year was 35 per cent lower than predicted.
The Mayor’s transport body had assumed the £60 million link would raise £8.3 million in tickets — but it took £5.4 million.
Even though operating costs were £400,000 lower than expected, the cable car was still £2.5 million short of TfL’s budget predictions.
TfL insisted the cable car was not making an operating loss. But without its £3.6 million quarterly sponsorship from Emirates Airlines, its finances would have been much tighter.
Green Assembly member Darren Johnson said: “Including the cable car in the Oyster pay-as-you-go cap, freedom passes and travelcards would make it more affordable.”
TfL’s cable car chief Danny Price said: “Passenger numbers do fluctuate… however overall numbers this year are in line with our forecasts.”
