London Underground has reduced its operating cost per car kilometre by 6%, and the unit costs for maintenance by 6% on average.
The savings are set out in a new LU report into the last five years of modernisation and improvement on the Underground, during which time customer satisfaction, capacity and number of journeys have all risen to record levels.
Capacity is at record levels thanks to new trains and signalling systems, and more than 1.27 billion customer journeys are now made each year. Journey times have been reduced by an average of two minutes, and delays are down by 43%. Crime has reduced by more than a third and is now at its lowest ever rate.
However, costs per kilometre are still higher than the Docklands Light Railway and some other international metro systems that have been used as a benchmark.
LU Managing Director Mike Brown said: “The job is far from done. If we are to meet the demands of London’s growing population and continue to support London’s economic success, we need to go further, with sustained government funding to extend and improve the network and deliver Crossrail 2.”