Cubic awarded London ticketing contract

Transport for London (TfL) has confirmed the award of its Electra ticketing and fare collection contract, starting in August 2015, to Cubic Corporation’s UK subsidiary Cubic Transportation Systems following a competitive tender. The seven-year contract is valued at over US$700 million and includes an option to extend the contract for a further three years, giving the contract an expected value of over US$1 billion. The announcement means the continuation of the partnership between TfL and Cubic which ha
July 30, 2014 Read time: 2 mins

1466 Transport for London (TfL) has confirmed the award of its Electra ticketing and fare collection contract, starting in August 2015, to 378 Cubic Corporation’s UK subsidiary Cubic Transportation Systems following a competitive tender. The seven-year contract is valued at over US$700 million and includes an option to extend the contract for a further three years, giving the contract an expected value of over US$1 billion.

The announcement means the continuation of the partnership between TfL and Cubic which has seen the introduction and network-wide roll out of the iconic Oyster card. Recently, contactless payments have also increased choice and convenience for the millions of travellers who use the London network every day.

Electra includes an initial stage plus extension options up to a total ten-year term. Central to the requirement is the use of technology to reduce costs and improve service to help cope with the increased demand from London’s burgeoning population.

Roger Crow, senior vice president and managing director, EMEA at Cubic Transportation Systems, says, “We are delighted that our bid to continue our work in London has been successful. Each member of our team, both here in the UK and around the world has contributed to our work with TfL and I am extraordinarily proud of what we have achieved.”

“London is unique among the cities Cubic serves and our entire team is committed to providing the best service and most appropriate innovation to support TfL in its mission to deliver a pioneering, world-class service for its citizens,” says Steve Shewmaker, president of Cubic Transportation Systems.

For more information on companies in this article

Related Content

  • Mayor’s lane rental scheme cuts roadwork disruption
    April 11, 2014
    A new study into London’s lane rental scheme shows that since its introduction the amount of serious and severe disruption caused by planned roadworks has been cut by 46 per cent on the capital’s busiest roads, reducing delays for all road users. The scheme, which came into effect in June 2012 on the busiest parts of London’s road network, is designed to encourage utility companies to avoid digging up the busiest roads at peak traffic times. Following the introduction of the scheme, around 90 per cent of
    Read More
  • Thales completes Jakarta ABT service
    October 18, 2022
    Account-based ticketing and MaaS solutions delivered on Indonesian city's transit system
    Read More
  • Vix Technology to implement smart ticketing solution in Edmonton Metropolitan region
    July 17, 2017
    US-based transport ticketing specialist Vix Technology has been selected by three city partners in the Edmonton metropolitan region, Canada, which includes the City of Edmonton, Strathcona County and City of St Albert, to implement a new regional smart fare solution (RSFS). The 15-year contract will enable the three cities to move from cash and paper-based ticketing systems to a common contactless fare payment system utilising an account-based back office. The RSFS initiative is made up of multiple componen
    Read More
  • Mega trends will challenge transport technology
    June 5, 2015
    Jon Masters investigates some of the longer term trends that will shape transportation over the next 20 years. Business analysts and investors have already placed their bets on a future of technological smart mobility services. In December last year, the Wall Street Journal reported that Uber, the on-demand taxi and lift share smartphone app and start-up business, had been valued at $41.2 billion which, as the Journal reported, is an incredible vote of confidence for a company only five years old.
    Read More

Highlighted Content