Running between Homerton University Hospital and Aldgate bus station, it is operated by Stagecoach London.

From the 1960s, route 242 ran between Chingford station and Potters Bar via Waltham Abbey and Cheshunt.

[4][9]In 2017, the route was diverted to terminate at St Paul's, before being cut back on 15 June 2019 to Aldgate bus station with a service frequency reduction.

[10] The diversion to Aldgate was criticised for the reduction in access to the City of London and St Bartholomew's Hospital for residents.

[11][12] The reduction in service frequency was criticised for its impacts on the deprived Clapton Park Estate, an area only served by the route.