Bairnsdale Highway Patrol officers are appealing for witnesses and dashcam footage following a serious collision in Wiseleigh on Monday.
Investigators believe a silver Foton station wagon was travelling east along the Great Alpine Road when it veered and collided with an oncoming school bus about 10.15am.
The car caught fire but was quickly extinguished by witnesses.
The driver of the car, a 69-year-old Nicholson woman, and her passenger, a 73-year-old Nicholson man, were both airlifted to hospital with serious injuries.
Sadly, the man remains in hospital in a critical condition.
The driver of the bus and his 42 passengers, two adults and 40 children, were treated at the scene for minor injuries.
Investigators are appealing for anyone who was driving in the area at the time and may have dashcam footage of the incident to come forward.
Anyone with information that could assist police is urged to contact Crime Stoppers on 1800 333 000 or file a confidential report online at www.crimestoppersvic.com.au