1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168 
Parkinson sets new profit target
Page 25
If you've noticed an error in this article please click here to report it so we can fix it.
• London Regional Transport has been told to turn an operating loss of £76m into an operating surplus of £70m in the year ending March 1993.
In a letter to the chairman of London Regional Transport, Secretary of State for Transport, Cecil Parkinson, has said that the commercial operations of London Buses Ltd (LBL) and those of Victoria Coach Station are expected, as a minimum, to earn a 5% return on turnover.
Parkinson goes on to reaffirm the Government's commitment to deregulation of the London bus market, and the subsequent privatisation of subsidiaries of London Buses. He says these subsidiaries are ex pected to "move as quickly as possible to a position where they can compete successfully in a deregulated bus market."
He has cut objectives for London Buses' operating costs per passenger mile, including depreciation and renewal, from £2.77 for 1989-90, to a target figure of £2.57 for the financial year ending 1 March 1993.