David Hannell, owner of Merseypride, the company that the crashed A3 coach belongs to, has said he felt "devastated" on hearing the news.
Speaking outside the company depot in Speke, Liverpool, he said:
Further to the news of one of our vehicles being involved in a tragic accident on the return journey from the Isle of White festival, myself and the company offer our heartfelt sympathy to all the families of the passengers involved.
We ourselves are devastated. I've been up all night worried sick about what's been happening."
Mr Hannell said the police had not told him anything and that "nobody seems to know what's happened".
He said this was the first serious accident Merseypride had had in 20 years and that the company had cancelled school jobs today because his drivers were not in the right frame of mind.
More top news
School fees, pricey private medical care and the fear of interest rate rises mean even those on £200,000 are feeling the pinch.
Overnight it will be cooler and fresher but most places will stay dry with a nippy start to Sunday.
X Factor contestant Raign seems to impress the Wembley audience with her own song even though Cheryl finds her "really annoying".