Edinburgh buses produce £3.2 million dividend for councils for first time since Covid

Lothian Buses has produced a dividend of £3.2 million for the city council and the other Lothian local authorities - the first time it has returned any money for the councils since before Covid.

It comes after a good year for Edinburgh's publicly-owned bus company, which saw passenger numbers increase by over 17 per cent from 94 million in 2022 to 110 million last year. The company also recruited 413 new drivers in 2023, helping to combat a serious shortage.

Lothian Buses performed strongly last year and produced a dividend for its council shareholders for the first time since 2019.

Lothian Buses managing director Sarah Boyd said: “Lothian continues to contribute significantly to the local and wider economy, creating new job opportunities and consistently investing in the newest technology and vehicles to deliver for our people and our customers.

“A considerable team effort delivered strong operational and commercial performance across 2023 enabling the business to return dividends of 3.2 million pounds to our local authority shareholders. Our annual accounts for last year demonstrate continued recovery and growth since the pandemic, despite significant operating challenge and wider economic pressures.”

Edinburgh will get the vast majority of the dividend, the first since 2019. The city council owns 91 per cent of the company, Midlothian Council 5 per cent, East Lothian Council 3 per cent and West Lothian Council 1 per cent.

Edinburgh transport convener Scott Arthur said: “This demonstrates Lothian Buses’ ongoing, successful recovery from the pandemic, and the commitment all at the company have shown to get Edinburgh moving and our economy back on track. Receiving this dividend is a real turning point - I could not be prouder of them and all they do for Edinburgh."

He said passenger numbers had now recovered to about 90 per cent of pre-Covid levels and praised the successful recruitment drive. “It’s amazing to have Scotland’s best bus service here in Edinburgh, and getting a dividend on top of that is incredible," he said.

“Lothian’s resilience has seen passenger numbers grow significantly, providing reliable, sustainable public transport to millions each year, supporting our net zero 2030 goals. It’s thanks to this growth that they’ll be able to return dividends to Edinburgh council and the other minority shareholding councils, which will help us to improve transport in Edinburgh.

“In the coming year I will be doing all I can to ensure Edinburgh’s bus network remains attractive and reliable, and hope that helps underpin Lothian Buses’ continued success.”