Using freedom to build for the future?

The conventional view of the bus industry is that it is resilient to economic downturns.

Recent results statements published by the major transport groups suggest that this is the case with Arriva, FirstGroup and Go Ahead broadly maintaining a stable business performance. But should the industry be thinking that it can do more than just hold its position in the current environment? Can it use the commercial freedoms which are denied to sister train operating companies to innovate and turn the...