Request ID: FOI-3533-2223 Date published: 25 April 2023
You asked
Dear Transport for London,
I would like to make the following Freedom of Information request in relation to the London Cable Car.
Firstly, could you please provide a breakdown of the operating costs and fare revenues of the London Cable Car for every year it has been in operation since it opened in 2012. Please provide totals for each year up until the most recent for which data is available.
Secondly, could you please provide a breakdown of the money received in relation to sponsorship deals for the cable car, as well as any additional funding. This includes the sponsorhip deal with Emirates Air Line, the new deal with IFS, as well as the funding received from the EU. Please provide totals for these sources as well as any additional sources not covered by these three sources I have named.
Finally, could you please indicate whether TfL has at this point made back the original building costs of the cable car, which I understand to be in the realm of £60m. If it has not made this money back, could you please indicate how much it has made back so far, as well as detail any forecasts as to when it is expected make back this money.
We answered
TfL Ref: 3533-2223
Thank you for your request received by Transport for London (TfL) on 27 March asking for information about the London Cable Car.
Your request has been considered in accordance with the requirements of the Freedom of Information Act and our information access policy. I can confirm that we hold the information you require. You asked: I would like to make the following Freedom of Information request in relation to the London Cable Car.
Firstly, could you please provide a breakdown of the operating costs and fare revenues of the London Cable Car for every year it has been in operation since it opened in 2012. Please provide totals for each year up until the most recent for which data is available.
Secondly, could you please provide a breakdown of the money received in relation to sponsorship deals for the cable car, as well as any additional funding. This includes the sponsorhip deal with Emirates Air Line, the new deal with IFS, as well as the funding received from the EU. Please provide totals for these sources as well as any additional sources not covered by these three sources I have named.
Finally, could you please indicate whether TfL has at this point made back the original building costs of the cable car, which I understand to be in the realm of £60m. If it has not made this money back, could you please indicate how much it has made back so far, as well as detail any forecasts as to when it is expected make back this money.
The Fare Revenue and Operating Costs for the London Cable Car are reported by financial year, commencing on 1st April, ending on 31st March. Fare Revenue and Operating Costs from launch in financial year 2012/13 to financial year 2022/23 are shown in the attached spreadsheets. Please note that the data does not include capital investment to renew or life-extend cable car assets.
Payments made to TfL (Docklands Light Railway Limited) under the Emirates sponsorship contract are given in Schedule 2 of the contract.
All payments per Schedule 2 of this agreement falling due, have been paid in full, with the exception of the Eighth Anniversary payment, from which a deduction of £491,904 was made in accordance with Clause 6.4 and Schedule 7 of the aforementioned sponsorship contract, due to closure of the Cable Car during Reporting Period 13 2019/20 and Period 1 and 2 of 2020/21, in adherence with the COVID-19 Pandemic restrictions imposed by the UK Government.
In accordance with section 21 of the FOI Act, we are not obliged to supply you with a copy of the requested information as it is already accessible to you elsewhere.
The Cable Car continues to cover its operating costs. TfL has completed a detailed budget for 2023-24 and a high-level forecast for 2024-25 which was approved by the TfL board on 29th March. The budget for the Cable Car in 2023-24 shows a direct operating surplus before capital renewals of £2.6m. Long term forecasts beyond 2024-25 are not completed for each of the operational business with only a high level business plan.
If this is not the information you are looking for, or if you are unable to access it for any reason, please do not hesitate to contact me.
Please see the attached information sheet for details of your right to appeal as well as information on copyright and what to do if you would like to re-use any of the information we have disclosed.
Yours sincerely
Sara Thomas FOI Case Management Team General Counsel Transport for London
