Updated 28 December: Titsa says that bus services on New Year’s Eve will be running according to the normal timetable (presumably because New Year’s Eve is not actually a public holiday), and that some lines will be reinforced. The full details are HERE. Do remember too that the tram runs all through the night at 15-20 intervals between Santa Cruz and La Laguna. The tram will stop at Teatro Guimerá, however, rather than the intercambiador because of New Year’s Eve celebrations in the Plaza de España and the Iglesia de la Concepción.
Original post 19 December: has announced the Christmas timetables for its bus routes throughout Tenerife. I always get asked about what buses are running, and when, and so HERE is the full information from Titsa about routes which are either altered or suspended over the Christmas period. The information specifically for Christmas Eve and Christmas Day is HERE, and for New Year’s Eve and Reyes HERE.