TfL completes deal for the new Class 345 ‘Elizabeth line’ trains to 345 Rail Leasing

TfL has completed a sale and leaseback deal for the new Class 345 ‘Elizabeth line’ trains to 345 Rail Leasing – a consortium comprising Equitix Investment Management Ltd, NatWest and SMBC Leasing.

The deal, which was approved by TfL’s Finance Committee in December, will release approximately £1bn to TfL. This will be reinvested in infrastructure across London’s transport network, including delivering a fleet of new Piccadilly line trains, the first of which will appear in London from 2023.

Rolling stock leasing is standard practice across the rail industry and NSAR regularly supports discussion on standard practice, training provision and more.

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