KD191 makes a very sensible and conclusive point relating to finances, which is very hard to improve on in my opinion. I will say that one good reason for a business (any business) not investing in new machinery at a given time and trying to stretch the life of older machinery out is the cashflow or profitability cycle the business is in. Specifically taking about Bus Eireann, they are coming from a position of being cash rich, to possible bankruptcy in under three years if the continued rate of year on year losses are maintained. Their cash burn according to their latest accounts in the last two years is phenominal. In this instance a large fixed asset purchase, financed by cash reserves would surprise me. However, maybe their latest (yet to be audited) accounts are not going to show a loss, so that could be knowledge they have that we dont.

Oh to be a fly on the wall in the accounts department!