From BBC Hampshire & Isle of Wight, 26th January 2025:

Ferry passengers will face journey disruption as two vessels undergo repair and maintenance work. Operator Red Funnel, which has a service between the Isle of Wight and Southampton, will run a one-boat timetable for at least three weeks from Sunday while the foot passenger ferries are out of action.

The firm’s Red Jet 6 ferry has been sent to Wight Shipyard for a permanent repair to one of its water jet shaft seals, which was temporarily fixed in November. Red Jet 7 will begin its annual maintenance work once Red Jet 6 returns to service. Red Funnel had hoped to return to a full service from 16 February but said the repairs to Red Jet 6 meant it may need to extend its one-boat timetable by a few days.

https://www.bbc.co.uk/news/articles/ce853y86l8yo

Red Jet has 7 vessels with no replacements currently planned. It pays shareholder dividends which limit it budget for maintaining the fleet.

CalMac has 36 ferries in operation and a further 5 new replacements due. None are currently in dock.

CalMac, heavily subsidised by the Scottish taxpayer has fares at around half the cost to the traveller of typical Red Funnel trips.

In a recent scandal Red Funnel has been accused of fiddling its accounts to hide aspects of its accounting such as senior staff bonuses, shareholder dividends and other dishonest practices:

From Isle of Wight County Press in January 2024:

Questions continue to be asked about the finances of Red Funnel after the Isle of Wight ferry firm shortened its accounting reference period for 2022/2023, by one day. It is the third time in two years the company has filed for what is colloquially known as a ‘one day diddle’.

It means the cross-Solent operator has yet to publish its financial results for the 2022/2023 financial year. Red Funnel failed to respond to the County Press’s questions, asking why it had shortened the date. _{https://www.countypress.co.uk/news/24833333.isle-wight-ferry-firm-red-funnel-questioned-accounting-change/}

Why might they do that? The Press offers:

According to data intelligence company Red Flag Alert, a company might change its accounting period if it wants to “align accounting dates with other companies in the same group — or to move it to a quieter trading time of year to help with staff workloads.”

A reader, commenting below has a different idea:

John R

1 hr ago

I believe that the accounts were quite good up until for some reason ABP sold the company some years ago and since then it has been sold numerous times with everyone taking a large cut out of the dividends.

See these JR‘s? Trouble.

Is he right to be suspicious?

In September 2024, below a bullish media report by the Red Funnel CE, readers do not share her views and write:

Eatmyshorts

 3 months ago

If there has ever been a truer story of stealing a living Fran is up there with the best. If I had her run my company the way she runs RF she would have been sacked years ago. She’s incompetent in the job she does now and in her previous position. The stats say everything. I wouldn’t trust a word that comes from her mouth. She’s had to come out with this statement to attract investors. Unfortunately for her the ship has well and truly sailed. RF will be sold off with in the next year. I have no doubts in that and she will try and cling onto her job for dear life.

bembridge barnie

 3 months ago

Perhaps the chief exec could consider giving up her huge bonus and put it towards some staff, save on cancellations.

Marcus

 3 months ago

Why is this individual being paid bonuses when the core purpose of the company – to provide ferry services – is failing so badly on an every day basis? I hope the company goes bust and it is taken into public sector ownership so it can be run on a not for profit basis thereby reducing the prices and encouraging visitors to the Island who will spend money here.

CalMac has no shareholders. We own it and any profits are ploughed back in to the service.