Some by LLA others by LLOL
So how does that work? It all went to pot when LRT funded the Dart. Now LRT seem to be funding other projects like the
mezzanine floor yet all infrastructure was meant to be funded by the operator leaving LRT risk free with no debts.
The big biggest difference between the two companies is that LLAOL make large profits while LRT make massive losses not helped by LRT handing over £45m to the operator due to Covid and £260m write downs for the Dart that they will be paying off for the next generation together with Council bailout loans of £199m to stop LRT going bankrupt.
LRT are finally getting their act in order by appointing directors that might just know about business. LRT has a long history of appointing fish wives, shop workers and taxi driver types who are Councillors with the only financial skills and advice they bring to the table is managing their housing benefits and attendance allowances for attending Council meetings.
Shame LRT can no longer afford to pay a dividend due to its losses, as the Council is also in a financial mess due to it no longer receiving a dividend.
https://www.lutontoday.co.uk/news/po...rophic-4576390