The journey between Greenwich and the Royal Docks will cost Oyster pay as you go users £3.20 for adults, £1.60 for children.
Travelcard and Freedom pass holders will need to purchase a separate ticket at the Oyster pay as you go rate.
Transport for London says fares will not be included in the Oyster daily capping.
Non-Oyster and pass users will be charged a single cash fare of £4.30 or £2.20 for children. A ten journey ‘frequent flyer’ ticket will be available for £16 but journeys must be used within 12 months of purchase.
TfL is also talking up a non-stop, ‘360 degree tour’ return journey, however this costs the same as two standard single journeys at £6.40 when purchased by Oyster.
The cable car will operate from 0700 to 2100 Mondays to Fridays, 0800 to 2100 on Saturdays and 0900 to 2100 on Sundays. These hours may be extended when there are events at the local venues.
When he first announced plans for the scheme Mayor Boris Johnson promised it would be funded “entirely from private finance” and that no costs would be incurred by TfL.
Despite this he later confirmed that TfL would provide the scheme’s “upfront funding” which would then be recouped “from a range of sources including the appointed commercial partner, fare revenue and sponsorship.”
The Mayor’s sponsorship deal with Emirates Airline subsequently secured just £36m of the scheme’s £60m cost. TfL has since been forced to seek European Union funding to help cover some of the scheme’s costs.
Speaking on Monday the Mayor said: “On 28 June this spectacular new addition to London’s skyline will provide a much needed new river crossing in the east of our great city. It will open up access to jobs in the Royal Docks enterprise zone and attract businesses and investors to a previously under exploited area.
“The Emirates Air Line is part of my plan to develop a package of new river crossings in east London and transform the surrounding area into a vibrant new metropolitan quarter that will attract new jobs, homes and enterprise.”
Liberal Democrat London Assembly leader Caroline Pidgeon welcomed news of the start date but said: “However in the long term it is clear that the Thames Cable Car will not be an integral part of London’s public transport. For example why should local people with a Zone 3 weekly, monthly or yearly travelcard be charged for using this service? And how many people are really going to use this service as opposed to their normal mode of transport?
Pidgeon added: “Boris Johnson needs to come clean and explain just how much the cable car will be costing London’s taxpayers. Two years ago he misled Londoners by claiming it would not cost a penny of public money, yet in reality millions of public money has poured into the project with the final figure facing taxpayers still not clear.”
Labour London Assembly Member John Biggs said: “While a new river crossing is welcome, it is a real shame that locals will have to pay a premium fare to get across the river. We were also promised by Mayor Johnson that this scheme would cost the taxpayer nothing, in fact we will end up paying tens of millions of pounds.
“The sponsors have got an exceptionally good deal out of the Mayor, it’s a shame he didn’t push them harder and get a better deal for Londoners. The Cable Car and this deal is a broken promise to Londoners. East London despetately needs serious solutions to its transport problems, in particular, two new road crossings east of Tower Bridge. The mayor has cancelled one of these and massively delayed the second.”