Black cab drivers are seeking compensation for lost earnings.

The ongoing war between the city of London and Uber looked to have finally come to an end earlier this year with the granting of a new temporary license for the ride-sharing platform.

However, London's cabbies are having none of it, and are preparing a £1.25 billion lawsuit against the company, according to Reuters.

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The Licensed Taxi Drivers’ Association (LTDA) has confirmed it is in discussions with its lawyers over possible action over lost earnings. Sky News reported that as many as 25,000 licensed black cab drivers in the capital have lost earnings due to Uber amounting to an average of around £10,000 for at least five years.

"We’ve been approached by a number of members to help them explore whether there would be grounds for a potential class action on behalf of all taxi drivers against Uber," LTDA General Secretary Steve McNamara said in a statement.

"We are in the very early stages of obtaining legal advice from leading law firm Mishcon de Reya on whether this is a possibility," he added.

Uber was given a reprieve in London last month, being granted a temporary 15-month licence to operate in the capital.

It had its licence stripped last September after Transport for London (TfL) deemed that it had failed to report serious criminal offences and also failed to carry out proper background checks on drivers. Now with new senior management in place, including new chief executive Dara Khosrowshahi, Uber has pledged to 'make things right'.

Judge Emma Arbuthnot said that changes made by Uber in light of the previous ruling were enough for it to be considered 'fit and proper' to run in London. As a result, the company was granted a 15-month licence to operate – falling way short of the five-year one it applied for last September when TfL chose to not renew it.

Uber has so far yet to comment on the LTDA's pending action