In reply to afshapes:
> I may well be wrong but I was under the impression that public transport is heavily subsidised by public money ?
The term "public transport" does not
by definition mean "subsidised by public money", although it is commonly the case.
"Public transport (North American English: public transportation or public transit) is a shared passenger transport service which is available for use by the general public, as distinct from modes such as taxicab, carpooling or hired buses which are not shared by strangers without private arrangement."
From
https://en.wikipedia.org/wiki/Public_transport
"Buses, trains, and other forms of transport that are available to the public, charge set fares, and run on fixed routes"
From
http://www.oxforddictionaries.com/definition/english/public-transport
(Note that, under neither of those definitions is a taxi "public transport".)
In Edinburgh, Lothian Buses is publicly owned (91% owned by the city council, with Midlothian and East Lothian councils owning the rest). Although a few
routes are subsidised for social reasons, overall the company returns a net profit each year (it pays the council a larger dividend than it receives in subsidy). In contrast, TfL receives over £400M a year to subsidise bus operations in London.