Mayor of London Boris Johnson has confirmed the cable car planned for east London will be titled the Emirate Air-Line after the UAE carrier agreed to foot two-thirds of the cost of the tourist attraction.

The cable car, which will cross the Thames between the O2 Arena and Excel London, is expected to cost up to £60m, half as much again as recent forecasts.

Of this, £40m will be footed by the Emirates airline in return for naming rights. In addition to this the mayor will ‘re-brand’ London’s North Greenwich and Royal Victoria Dock historic areas Emirates Greenwich Peninsula and Emirates Royal Docks respectively.

London mayor Boris Johnson said: “It [the cable car] is going to have an incredible impact on tourism. It’s 330ft up: You will have an incredible view of the city.” The major added that the development should be ready in time for the 2012 London Olympics.

The Wilkinson Eyre-designed transport link will be able to carry 2,500 people per hour on the 1.1km, five-minute journey across the river in one of structure’s 34 gondola cabins.

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