The age-old problem, which the Tories don't actually care about, is their fallacious argument that turning a service into a business improves it, which history shows is rarely the case.
When you provide a service, which is funded from government, the focus is on providing the service first, and the justifying its cost to central funding officials.
When you start a business, your entire focus is on profit and you focus only on the aspects of the business that can generate a profit, and anything and everything else is discarded.
It doesn't take a genius to work out that the two concepts are utterly incompatible.
The Tories love privatisation because their God is market forces, and they think anyone who can make money out of anything should be given the opportunity to do so.
The reality is that some things - and public transport is one of them - need to be provided simply because society benefits from the, and paying money to benefit society can actually be a good thing.
If you focus on profit, then you develop tunnel vision which has a huge pound sign at the end of it, and your obsession becomes cutting costs, which means cutting services, but that doesn't matter because you are no longer providing a service, you are running a business.
Except you shouldn't be - that is the point.