Transport bosses have stumped up another £5m to try to settle the row over Olympic bonus payments for bus drivers before tomorrow's strike.
Bus workers in the capital are set to stage two new strikes in a dispute over an Olympic bonus payment.
Staff in Transport for London's travel information and call centres will walk out for 24 hours in a dispute over a bonus for the Olympics
Bus strike talks will continue today. A 24 hour walkout was suspended earlier this week to allow talks over Olympic bonus payments to continue.
Transport for London boss Peter Hendy claims TfL's profit-share offer to bus workers is "innovative".
A planned strike by London bus workers tomorrow in a row over an Olympic bonus has been suspended to allow further talks, Acas said.
Talks between bus companies and Unite continue at Acas.
Transport for London's head of Surface Transport, Leon Daniels wrote to the boss of one of London’s leading bus operating companies, John Trayner offering to share extra bus fare revenue generated during the Olympics with bus operators on the condition that they then pass it on to workers.
The TfL offer would see any additional bus fare revenue split 50:50 with bus operating companies, on the condition that it is passed on to bus staff, following the Games. TfL offered to have the amount of additional bus fare revenue generated during the Games independently verified.
The TfL offer comes on top of an offer from the bus operators to supplement the £8.3m from the Olympic Delivery Authority brokered by the Mayor with funds of their own.
Transport for London has also offered to share additional bus profits generated by the Olympics 50/50 with staff.
Unite officials will be urged to put the new offere to members and call off tomorrow's strike
Talks to avert strikes by London bus workers unhappy at their Olympic bonuses are entering a third day. According to the concilliation service Acas, negotiations betweeen the union Unite and bus companies have been constructive.