Isle of Wight ferries charged several times the CalMac rate and got a Covid rescue grant yet made £16m profit and paid shareholders £10m

In Island Echo today:

Wightlink made a profit of £16million in the financial year to March 2023, according to the company’s latest financial figures. The cross-Solent operator published its accounts – which are available on Companies House – on 8th January, covering the period from April 2022 to March 2023.

The highest-paid director – who is unnamed – took home £398,000, with a further £285,000 paid out to other directors. A dividend of £10million was proposed to be paid in June last year, despite Wightlink taking a COVID rescue grant from the Government.

No CalMac or previously Caledonian MacBrayne ferry has ever sunk. No passenger has been hurt but the fully privatised Isle of Wight ferries often breakdown at sea, burst into flames and in 2014, four passengers had to be hospitalised after an incident.

Isle of Wight ferry costs?

Most summer visitors pay somewhere around £150-£200, although peak fares sometimes reach £300 during school holidays.

https://www.isleofwightguru.co.uk/isle-of-wight-ferry-beginners-guide.html

Calmac costs?

As an example, Brodick to Arran, longer than the Isle of Wight crossings, a car with two passengers is £45.

Scottish islanders, be careful what you wish for. This is what Neu Labour has in mind for you.

7 thoughts on “Isle of Wight ferries charged several times the CalMac rate and got a Covid rescue grant yet made £16m profit and paid shareholders £10m

  1. Indeed. People should be very careful what they wish for regarding Calmac. Yes they have their faults, but who doesn’t. Beware the media and as I have said, remember that there will be people ‘running interference’ in order to discredit CalMac.

    Liked by 2 people

  2. The Herald’s Shipping/Ferry resident expert ( Mr Williams ? – not Kenneth ! )will be all over this story like a cheap suit .
    What’s that ? It has no connection with SNPbaaad ? Well , stuff that !

    Liked by 2 people

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