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Steam Packet - Huge Loss


John Wright
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Ordinarily that would be an absolutely shocking figure but given they were mostly reliant on freight, had zero tourism and incurred extra costs due to covid controls it doesn’t seem all that bad.

You’d expect figures for Dec’ 20 - Dec’ 21 to be somewhat similar, summer tourism alone isn’t going to make up the deficit of Dec-May, on that basis you’d expect the loss to be roughly half, perhaps 4-5 million?

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17 minutes ago, Annoymouse said:

Ordinarily that would be an absolutely shocking figure but given they were mostly reliant on freight, had zero tourism and incurred extra costs due to covid controls it doesn’t seem all that bad.

You’d expect figures for Dec’ 20 - Dec’ 21 to be somewhat similar, summer tourism alone isn’t going to make up the deficit of Dec-May, on that basis you’d expect the loss to be roughly half, perhaps 4-5 million?

I’m not sure Covid will have impacted freight. Tourism was never a big figure recently. Most passengers and cars are residents going to/fro.

Staff wages were the same. Reduction in operating costs is no SeaCat and reduced number of Mannanan crossings.

What does this tell us? Perhaps that freight doesn’t meet the costs.

There’ll be some tourists. But no TT. In the 2021 figures. But unless second half 2021 Covid changes then second half passenger and car traffic should be more or less normal. Especially if air connections remain restricted.

Theres an interesting £5 million pension loss and the £2.5 million other loss. Total loss for year £17 million.

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I suspect Covid would have altered the freight - how much construction was done? all of which used to involve imported building material.  Why they ran two boats daily defeats me as a bi or tri weekly sailing would I think have sufficed for foodstuffs etc

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