We're in the process of moving to www.SE1.news - find the latest news there.
London Eye financial crisis
Despite receiving 10m visitors a year, the South Bank's London Eye is facing mounting losses, according to press reports.
British Airways, Tussauds Group and Marks Barfield, the shareholders of the giant observation wheel are working on plans to refinance the £88m loan to build the wheel that carries a hefty 24% annual interest charge, making it near impossible for the London Eye to be profitable.
A report in Sunday's Observer suggested that BA could sell its stake to Tussauds for £120 million, taking the stake of the owner of Chessington World of Adventure and Alton Towers to 66 per cent.
Comments
Share
The SE1 website is supported by people like you
Please join our membership scheme or sponsor an hour of local reporting so we can survive
Follow us
Email newsletter
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.