There are lots of assumptions with very little evidence with regard to Arriva above

To me it looks like the only operator to be still running reduced services are GNE. They have a surplus of buses (and drivers) due to the loss of contracts.
They heavily invested in new buses before the pandemic hit. They have had to invent a coaching division as they have a surplus of unwanted NatEx coaches that they couldn’t hope to sell at a reasonable price. And as the NatEx network is still not up and running fully those coaches Are also lying idle..

Yet you think they are in a position to buy Arriva Northumbria?