MTR (HKG:0066) lost control of the Elizabeth Line in London after 10 years of operation, according to a statement by the administrator, Transport for London, on Wednesday.

MTR unit MTR Corp (Crossrail) will hand over control of the Elizabeth Line to GTS Rail Operations starting May 2025 for seven years, extendable for another two years, TFL said.

GTS is a joint venture between British company Go Ahead Group, Tokyo Metro, and Sumitomo (TYO:8053).

There will be no changes to train times, while staff hired by the MTR unit will be retained by the new consortium, TFL said.