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The London Assembly claims the shortfall from hire fees means Londoners are subsidising each bike ride at a cost of £1.36.
It's the official launch today of TfL's bid to plug a £5.5 million a year hole in Boris Bikes after Barclays walked away.
TfL opened the tender process claiming: "A number of globally renowned brands have already shown an interest."
Latest ITV News reports
Transport bosses in have launched a bid to plug a £5.5m-a-year-black hole in London's flagship "Boris Bikes" scheme.