Five special-needs students were lucky to walk away with just cuts and bruises yesterday morning in Queens after a taxi blew a red light and hit their school bus, causing it to flip over, authorities said.

The southbound cab met the westbound bus at 150th Street and 87th Street at 6:25 a.m. The kids, ages 4 to 11, were en route to Yeshiva HS and PS 80. They were treated at Long Island Jewish Medical Center. So was their driver, also for minor injuries.

A bus matron suffered serious injuries and was taken to Jamaica Hospital, as was the cabby, who was also injured but not charged, cops said.