Is the Elizabeth line making money?

Is the Elizabeth line making money? TfL's Finance Report Period 7, 2022/23 says “Journeys on the Elizabeth line (EL) have been above expectations since the opening of full services on 24 May. Journeys are 20 million better than Budget in the year to date, with income £29m higher than expected.



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TfL's Finance Report Period 7, 2022/23 says “Journeys on the Elizabeth line (EL) have been above expectations since the opening of full services on 24 May. Journeys are 20 million better than Budget in the year to date, with income £29m higher than expected.

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It now officially carries 60,000 passengers every weekday and more than 3 million each week, again defying expectations and making it the busiest railway line in the UK.

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TfL does not generate profit. Any income is reinvested in improving the transport network.

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One that's guaranteed to happen is that a new Elizabeth line station will be built in west London, at the Old Oak Common interchange with HS2, which is due to open in 2029-33. The core tunnels are also designed to handle up to 32 trains per hour — compared to the 24 trains per hour that'll be in service from this May.

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Running from Reading and Heathrow Airport in the west to Shenfield and Abbey Wood in the east, the Elizabeth line brings an additional 1.5 million people within 45 minutes of the capital's busiest districts; eases congestion on older lines; and makes London more accessible to all, as wheelchair users can reach its ...

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While the tunnelling had gone OK, the technical side of things was faltering. Three signalling systems didn't want to talk to the new trains. Bond Street station slipped badly behind. The project suffered a huge, undignified fall from grace and became a bit of a joke.

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The Mayor of London, Sadiq Khan, said: This fare increase was chosen as one which would have a lower impact on Londoners currently worried about the cost of living, and to ensure that journeys that avoid zone 1 will not be affected, helping to protect those living near and working at the airport.

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How much does it cost to travel on the Elizabeth line? Fares are the same on the Elizabeth line as the rest of the London Underground network and vary by the time you travel (peak and off-peak fares), as well as how many zones you travel through.

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The Elizabeth Line is about half the price of a full-fare Heathrow Express ticket, but takes twice as long to reach Paddington. Trains depart every 30 minutes and it takes just 35 minutes to travel between Paddington Station and Heathrow.

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Technology is now pushing the driverless envelope; the New Tube for London trains designed by Siemens — and due to roll out from 2025 — have fully driverless capability, but again, will be manned by a train captain at all times.

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It typically carries about 600,000 passengers a day between Tuesday and Thursday – with sections of the line approaching maximum crowding levels during the morning rush hour.

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