David Squire could never have guessed what was lying around the corner when he headed up a buy-out of Bournemouth’s iconic Yellow Buses.

A pandemic that would send passenger numbers tumbling as a result of three lockdowns and the shutdown of large sections of the economy.

So would the lifelong busman, with 40+ years’ experience, have made the same decision in light of what he now knows?

Without even a single second’s pause, he said: “Absolutely. 100 per cent.

“I have no regrets. None, whatsoever.”

In fact, David believes that the Management Buyout (MBO) put Yellow Buses – the trading name of Bournemouth Transport Ltd – in the best possible position for dealing with the fallout of Covid-19.

He said: “Agility, the flexibility to make different choices, the opportunity to change and simplify things.

“The fact that we’re locally owned and locally run means that we have the ability to react quickly – and that’s really worked for us.”

The MBO was carried out by David and his colleagues Phil Pannell, Service Delivery Director, and Simon Newport, Commercial Director, pictured, in July 2019.

Between them the busmen had more than a century’s experience.

The business was an unusual fit for its former French owner, RATP Group.

The state-owned public transport operator took ownership of Bournemouth Transport in 2011 from another French company, Transdev.

“We were RATP’s only commercial bus company in the world and an odd bit of the group in many respects,” said David.

A key task of the new owners has been to reverse years of losses.

Bournemouth Transport last made a pre-tax profit in 2014.

Its latest set of accounts, for the 15 months to March 31, 2020, have been filed with Companies House and are due to be published this week.

They show a loss of £2.6m on a turnover of £23.9m.

That compares with a loss of £1.9m in the previous 12 months to December 31, 2018, and an £18.7m turnover.

But by their nature the latest accounts, which include one-off MBO, IT and pension costs, are historic.

The 2020/21 financial year finishes at the end of next month, March 31.

David is confident that not only will the company breakeven but even show a small profit on some of its commercial operations.

By any standards it would be a huge achievement on a par with one giant handbrake turn for the business – especially while coping with the effects of the pandemic.

So what lies behind the turnaround?

Back to that agility and ability to react quickly.

David said: “We have expanded our commercial engineering business.

“We have a skilled and dedicated team who look after our vehicles.

“They can also look after other fleets in our purpose-built depot designed for the maintenance of buses, coaches and large vehicles.

“We’re also an ATF (Authorised Testing Facility) for the DVSA (Driver and Vehicle Standards Agency).

“It generates a good revenue stream for us.”

Bournemouth Transport has also invested in its executive private hire coach arm, Yellow Coaches, headed up by Jay Thornton.

It now has a fleet of seven Mercedes Sprinter mini-coaches as well as nine coaches, offering a choice of 16, 48 and 53-seater vehicles.

From rail replacements and crew transport to ferrying school students, cruise passengers, day and event hire, David said: “We’ll go anywhere if the price is right.”

The expansion of Yellow Coaches has gone some way to replacing contracts from National Express.

Up to two years ago Bournemouth Transport had 16 coaches on routes such as the 035 from Weymouth, Poole and Bournemouth to Heathrow before the transport provider took the services in-house.

“It was a significant part of our business and if you’d told me two years ago that we would no longer have it I’d have been pretty concerned,” said David.

Of course, the core of Bournemouth Transport – described as its “bread and butter” by David – remains its bus operations operating as Yellow Buses.

With a fleet of some 140 buses, the company carries just under 15m passengers in a typical year.

Its vehicles operate nearly five million miles across the Bournemouth, Poole, Christchurch and East Dorset area.

David, 59, said that after the major changes implemented in April 2018, the network had been stabilised and, even with the challenges of the pandemic, was operating in the high 80’s/early 90’s percentages for punctuality.

Extensions on existing routes to locations such as New Milton had worked well while the simplified network had led to greater customer loyalty and, in some cases, revenue.

“We don’t just believe in competing with other operators for the sake of it,” he said.

As for the sharp decline in passenger numbers caused by the pandemic: “The financial scheme put in place quickly by the Department for Transport has, in many ways, been the saviour of the bus industry.

“Both they, and BCP Council, have been very supportive,” he said.

Despite current challenges, David said he was optimistic for the future, especially the likely ‘bounce back’ for resorts like Bournemouth from the expected boom in staycations later this year.

He reserved his greatest praise for the 350 staff at Bournemouth Transport who he described as “local heroes.”

The company demonstrated its gratitude to hard-working staff with a ‘thank you’ bus, pictured with driver Terry Angel.

David said: “I really do see us as one big family.

“We are a people business and we forget that at our peril.

“They have done an amazing job, often in very trying circumstances, and I couldn’t be prouder.”