Coronavirus: TfL lays bare £4bn loss in race to secure Whitehall bailout

TfL needs more than £3bn to balance an emergency budget that will be discussed this week, Sky News can reveal. London's transport system is braced to record a £4bn loss this year, underlining the urgency of the capital's efforts to access emergency funding from the government in order to keep bus and Tube services running. Sky News can reveal that Transport for London (TfL) has projected the massive annual deficit in its finances as it burns through roughly £600m every month during the COVID-19 crisis.