Details of Tube Modernization Plans Unveiled

Details of Tube Modernization Plans Unveiled

08 January 2003

Tube Lines unveils the details of its modernisation programme to upgrade the Jubilee, Northern & Piccadilly lines. The company is spending £4.4bn over the next 7-1/2 years on improving the three lines and work commenced on the contracts on 27 December.

New Future for the Tube Starts Here-statement on Tube Lines Profitability

New Future for the Tube Starts Here-statement on Tube Lines Profitability

08 January 2003

Regarding the profits Tube Lines expect to make in line with delivering its commitments under the contract, Terry Morgan, Chief Executive made the following statement: "Over the first 7.5 years, the 1st review period, the profits after tax are expected to be around £148m. This is based on Tube Lines performance being in line with delivering substantial improvements to the Tube, including a 10% cut in delays over the first 12 months and new signalling systems for the Jubilee and Northern lines."