Isle of Wight residents slam ferry crossing cuts as government-subsidised company makes £12 million in profits and pays £8 million in dividends

Red Funnel

From BBC Hampshire & Isle of Wight today:

Isle of Wight residents slam Red Funnel ferry crossing cuts. Under new timetables from 3 January, the last Red Jet ferry to the Isle of Wight will depart from Southampton at 22:30 GMT, with the final departure from West Cowes changing to 23:05. Red Funnel blamed the decision on reduced passenger demand. Isle of Wight residents have argued earlier crossings meant those hoping to attend concerts on the mainland would no longer be able to get home.

https://www.bbc.co.uk/news/uk-england-hampshire-67635947

There is no mention of any government nor of any politician in the above report.

I cannot find one from dozens of BBC Scotland reports on ferry services which does not link problems directly to the Scottish Government at several points in the text.

CalMac ticket prices are around 50% lower than Red Funnel’s and no dividends are paid because the Scottish people fully own it.

Source for the figures on Red Funnel subsidies, profits and dividends: https://www.islandecho.co.uk/with-profits-of-nearly-247000-per-week-wightlink-certainly-does-not-need-to-be-subsidised/

2 thoughts on “Isle of Wight residents slam ferry crossing cuts as government-subsidised company makes £12 million in profits and pays £8 million in dividends

  1. If CalMac paid dividends on this scale it would receive few , if any, criticisms from the Scottish Tories – as they would be happy shareholders !

    Liked by 3 people

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