An entire train line on the London Underground may have to close because of the financial hit from the coronavirus pandemic. 

Stops at such famous London locations as Baker Street, Oxford Circus, Piccadilly Circus and even Westminster could be affected if fresh government funding isn't provided.

Sadiq Khan, the city's mayor, has said cutting one of 11 lines could be a reality unless Transport for London (TfL), a local government body responsible for the network (known as the Tube), secures long-term investment from central government. 

Speaking to BBC 5 Live, Khan said: "One of the five things we are looking into is the possibility of closing a Tube line. Why? Because closing a Tube line will make the savings, the cuts, that we need to introduce if we are going to balance our books."

Last week, TfL's finance chief Simon Kilonback also said the body could be forced into the "full closure of a line, or part of a line, or smaller reductions across the whole network."

TfL's current government bailout expires on December 11. It is seeking $665 million to keep services in operation until next April, in addition to a further $1.6 billion for 2022/23.

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The absence of any guarantee of capital or investment funding to maintain and upgrade the London Underground and the road and bus network has prompted TfL to look at making drastic cuts: 100 out of 700 bus routes could be lost and there could also be a reduction in the frequency of more than 200 routes in addition to a 9 percent cut to Tube services.

Local media report that the Bakerloo and Jubilee lines seem to be most at risk from cuts or closure. Both serve Baker Street, a tourist hotspot for Sherlock Holmes fans, while the Jubilee line is one of three serving Westminster, next to the Houses of Parliament. 

The Metropolitan and Hammersmith & City lines, which link western and northwestern suburbs to the City of London, could also be options due to lower passenger numbers as well as overlapping rail and Tube services.

Khan hasn't identified which lines may be vulnerable, but speaking at the Centre for London's annual London Conference on Tuesday, he said bailout talks with the government had not yet started, despite there being only 12 days until the current deal ends. 

"There really is so much at stake and time is running out ... This unprecedented financial crisis facing TfL could have such far-reaching consequences," he said.

The mayor continued: "It won't be long before London itself will no longer have London-style transport services. We will forced to move into 'managed decline,' leading to rundown services reminiscent of the 1970s and 1980s.

"This is no exaggeration. Bus services would have to be reduced by almost a fifth. Tube services would need to be cut by nearly 10 percent. In practice, this could mean over 100 bus routes being withdrawn and the full closure of a whole Tube line." 

During the pandemic, TfL lost 95 percent of its fares income as commuter numbers fell due to people working from home. Even though Tube passenger numbers have returned to 65 percent and buses to about 75 percent, TfL is still behind budget as many adopt a hybrid working system. 

The Department for Transport has already given an extra $5.32 billion to keep services running but TfL fears it might have to declare itself bankrupt and hand responsibility for services back to the government. 

Cover photo: /Tolga Akmen/AFP