(19 Oct 2023, 10:56 am)Adrian wrote Maybe it's the impending franchising, as Ambassador suggests? The business is of course more lucrative, if you've got a foothold in the market when a model of guaranteed income comes in.

Manchester are the first, but we know it's extremely likely to be announced in the North East next May, with other MCA regions following suit. Labour, when inevitably elected, have also promised to roll out this power to non-MCA areas.

If it's done anything like Manchester then buying a bus company now is a big big mistake. Manchester you basically got a depot and buses given to you, there's no need to have the existing infrastructure at all.

I'd imagine their bigger aim is to spend money and get Arriva lucrative, they bought the thing under value. With some small investment they could turn it around for a profit pretty easily. Not to mention they are a sleeping giant in London, in recent years, where the contracts are very lucrative.

Not to mention they have the scope to go into more rail contracts with Arriva Traincare etc. Something very similar to First. Another very lucrative area.