Cubic awarded London ticketing contract

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.