Andy Byford, London's Transport Commissioner, said:

Reaching this agreement with the government allows us to help London through this next phase of the pandemic. We will continue to work with the Mayor and the government on our longer-term funding needs. As always, our staff are working tirelessly to serve London's people and businesses; supporting the city's economy and providing an excellent, safe and reliable service to our customers every day.

Transport for London (TfL) has secured a £1.8bn government bailout, to keep Tube and bus services running until March 2021.

The funding will ensure TfL can address its financial shortfall due to the loss of passengers as a result of Covid-19. The exact amount of money involved is subject to passenger revenue in the coming months.

Mayor of London Sadiq Khan said the deal was "not ideal" but he fought hard against the "very worst" proposals.

Covid and Crossrail - why TfL's finances are precarious

"The only reason TfL needs government support is because its fares income has almost dried up since March,"

Mayor Khan added. Without a bailout, the network would be forced to issue a Section 114 order, the equivalent of bankruptcy for a public company.

Discussions on longer-term sustainable funding continue, TfL said.