[Source: Transport for London]

The Transport for London (TfL) Board today announced its decision to sell East Thames Buses (ETB) to London General Transport Services Limited, part of the Go Ahead Group.

The transfer of ETB by TfL to the private sector will save TfL more than £30m over the next nine years, through the sale of assets and reduced operating costs, thus providing significantly better value for money for fare and taxpayers.

David Brown, Managing Director for Surface Transport, said: ‘The operation of ETB is not a part of TfL’s core business and this deal represents much better value for money for fare and taxpayers.

‘We are confident that London General will deliver improvements in service for passengers on the nine routes currently operated by ETB, at a reduced cost.

‘All employees working for ETB will be transferred to London General on the same contractual terms.’

It is expected the ETB operations will transfer to London General in early September.

All ETB bus routes will continue to operate as normal and all affected employees are being consulted and will be transferred according to the provisions of the Transfer of Undertakings (Protection of Employment) Regulations 2006, maintaining their current contractual terms.