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The Thames Cable Car, otherwise known as The Emirates Air Line, is a cable car service across the River Thames running from Western Gateway beside Royal Victoria Dock to the Greenwich Peninsula near to the O2 arena (formerly the Millennium Dome). It was designed by Wilkinson Eyre Architects, Expedition Engineering and Buro Happol, and built by Doppelmayr with sponsorship from the Dubai-based airline, "Emirates".
The service, which is operated by Transport for London (TfL) opened on 28 June 2012. It extends for 1275yds (1.1km) between its termini and the crossing takes about 10 minutes. The maximum travel speed is 6m/s (13½ mph). The maximum height achieved is about 90m (300'). Cabins arrive at the stations approximately every 30 seconds. There are three major pylons supporting the running mechanisms and lifting the cables over the Thames, with further minor pylons immediately adjacent to each terminus.
As the gondolas climb to their maximum elevation there are excellent views in all directions, and the crossing is advertised as much for these views as being a means of crossing the river. In truth, it has proved to be more successful as an attraction than as a useful method of crossing the Thames - mainly due to the somewhat out-of-the-way siting of its northern terminus.
One-way ticket price (Sep 2014) is £4.40 redued by 25% to £3.30 if you have a TfL travel card.
[Update 2025] A standard one-way ticket is now £7, with a return costing £13 - see Link for all their fares.
TfL website for the service Link

London Cable Car is a Transport for London gondola link across the River Thames, that was built with sponsorship from the air carrier Emirates for the 2012 London Olympics. The scheme, comprises a 1 km cable car line that crosses the river from the Greenwich Peninsula to the Royal Docks, linking two important Olympic sites. The project, estimated to cost £60 million, began construction in August 2011. From October 2022 is sponsored by IFS.
Wikipedia: Link