The operator of the Elizabeth line has lost its bid to renew its contract, Transport for London (TfL) has announced.

MTR Corporation (Crossrail) Limited's operations will be taken over by GTS Rail Operations Limited, a joint venture between Go Ahead Group, Tokyo Metro and Sumitomo Corporation.

TfL said the new operator would bring "the best parts of Tokyo and London to the Elizabeth line".

Claire Mann, TfL's chief operating officer said she was "delighted" to appoint the contract.

The contract will begin in May and lasts for seven years, with an option to extend for an additional two, TfL said.

Earlier this year, Labour promised to renationalise nearly all passenger rail services within five years.

"The Elizabeth line has had a transformational impact since opening in 2022 and has quickly become one of the most popular and reliable railways in the country," Ms Mann said.

"The railway has provided new, more direct journey options which has led to huge numbers of customers using our safe and accessible trains and stations.

"I am delighted that we have appointed GTS Rail Operations to continue to build on the success of the Elizabeth line and I look forward to working with them."

Miguel Parras, Group CEO of the Go-Ahead Group, said: "We’re proud to have been chosen to be TfL's partner, together with Sumitomo Corporation and Tokyo Metro, for the operation of the iconic Elizabeth line.

"We look forward to bringing our collective expertise across UK and international rail operations to London."