TfL reveals revenue and patronage dips as a result of London 2012

Revenue and patronage across London’s bus network fell over the summer as a result of the Olympic and Paralympic Games, according to figures released by Transport for London.

Total revenue actually increased by around £0.4m in the weeks leading up to the games, which TfL says was as a result of travel by the Games Family. Their travel also contributed £0.5m to TfL coffers during the Games themselves, but this was outweighed by a significant £1.2m reduction in non-Games revenue.

Throughout the Olympic and Paralympic period, Games Family travel totalled £1.2m, but non-Games revenue reduced by £2.7m, giving a net loss of £1.5m.

However, TfL admits that “later revenue adjustments are expected to increase bus revenue slightly”. This includes a share of the unused credit on Oystercards issued to Games volunteers, amounting to around £0.3m, and a reallocation between the modes of money paid to TfL for Games Family Travelcards, adding a further £0.1m to bus revenue.
The final net effect on bus revenue is expected to be a reduction of £1.1m.

The Games also had a significant effect on patronage across the network. Games Family and spectator travel accounted for 2.4 million journeys, but this was offset by a reduction of 1.7 million non-Games journeys, leaving a new increase of just 0.4 million journeys (0.4%). During the Paralympics, there was actually a net reduction of 2.8 million passenger journeys (1.6%).

Overall throughout the Olympics and Paralympics
period  non-Games bus journeys were down 4.0 million, while Games travel totalled 3.7 million journeys, leaving a net decrease over the three periods of 0.3 million journeys.

 

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