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FURTHER bad news for London Transport came this week when it was announced that the operation lost £15.7m last year after Greater London Council revenue grants of £110m.
LT Chairman Ralph Bennett described the service results as disappointing, but added that the early part of this year had seen "a sustained improvement in bus performance".
LT blames the deficit mainly on the previous Government pay policy. It says that its budgets for 1979 had been based on the then Government policy that pay increases should be limited to five per cent.
In the event, a special panel appointed by ACAS recommended very much higher pay increases.
Bus mileage in 1979 was down on the previous year but Mr Bennett said there are signs that the new management organisation for London Buses is leading to improvements.
LT is now achieving 97 per cent bus availability which, according to Mr Bennett, is the best for almost two years and the best winter figure for many years.