On Tue, 09 Jan 2018 18:32:32 +0000, Steve F. wrote:

On Mon, 08 Jan 2018 13:45:24 +0000, Recliner
wrote:

I agree, but as I'm saying that's increasing the costs. Or TfL could
be allowed to issue its own bonds, which wouldn't be quite as cheap as
doing it through the Treasury, but would be a fraction of the cost of
a sale and leaseback of an old Tube fleet.

Who has said they're selling and leasing back old trains?

They have a lot of much newer trains with a higher capital value.

That doesn't change anything. They're still trains that have no value
to anyone but TfL, so the lease costs will reflect that lack of
flexibility. It's quite different to a ROSCO buying standard
Electrostars or Aventras that can be readily leased to a different TOC
on another route.