From 28 June 2024, FirstGroup plc will be the new operator of the IFS Cloud London Cable Car, which connects the Greenwich peninsula to the Royal Docks area on the north bank of the Thames.

The contract has an initial core term of five years, with the possibility of an additional three-year extension. The Group expects total revenue of approximately £60 million over the eight year term of the contract, with the patronage risk being borne by the Authority.

A limited amount of investment and contingent capital is also required.

Service improvements and support for local districts

During the contract period, the Group has stated that it will support TfL in its vision to promote the cable car as a leader in the London leisure market. the London leisure market.

The Group is already working on plans to improve the service during the contract period as well as creating educational opportunities and work placements for school children in the local boroughs of Greenwich and Newham.

About FirstGroup plc

FirstGroup is a leading private provider of public transport. The company is already the operator of bus, rail and underground services in London.