I am advised:

The Park and Ride service was not a regular timetabled public transport route. It was a City of Newcastle initiative introduced in November 2017 as a measure to ease traffic congestion during the Revitalising Newcastle project works in the Newcastle CBD, which included construction of Newcastle Light Rail.

Funding for the Park and Ride service was initially provided by the Hunter and Central Coast Development Corporation, with services delivered by Newcastle Transport for a fixed term under the Newcastle Integrated Services Contract. Transport for NSW also contributed funding for the Park and Ride service from October 2018 to March 2019 around the commencement of Newcastle Light Rail on 18 February 2019.

The Park and Ride service offered from April 2019 is a bus charter between the City of Newcastle and Newcastle Transport under the Newcastle Integrated Services Contract.