Press release

Transport for London invoke break clause in Oyster contract

August 8th, 2008

TranSys, the consortium responsible for delivering Oyster, received official notification that TfL has invoked the break clause which forms part of the PRESTIGE contract. As with the majority of PFIs, the PRESTIGE contract, which has been in existence since 1998 and includes Oyster, incorporates a ten year break clause element. The London transport system has changed dramatically over the past ten years. For the benefit of all stakeholders, contract negotiations have been taking place over the last year between TranSys and TfL. The TranSys consortium will continue to operate and deliver for the next two years.

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