Check your facts.
All "local" bus companies receive large subsidies, it's the only way they can exist.
For example, Sheffield's buses receive a subsidy of over £1.6 million a year from central government alone.
In 2013 the council then spent £4.5 million on bus stops etc - another subsidy.
I couldn't find figures for the fare take, but based on passenger numbers I'd guess the subsidy is probably 10% of total revenue.