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Steam Packet - Huge Loss


John Wright
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12 hours ago, Numbnuts said:

Not looking very good but while I expected a loss not by that much. And we have the ongoing issue with the new landing in Liverpool looming and a new boat coming up next year. 

Most of it is a paper loss if you look at it.

Depreciatiom and Amortisation takes up a huge chunk.  The pension number is an actuarial calculation and means little today on cash flow.

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Just now, TerryFuchwit said:

Most of it is a paper loss if you look at it.

Depreciatiom and Amortisation takes up a huge chunk.  The pension number is an actuarial calculation and means little today on cash flow.

Yes but look at the drop in revenue.

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1 hour ago, monasqueen said:

To be fair/fare/fayre, the Racket were between a rock and a hard place when it came to keeping a service going.

Most of the freight comes overnight, so it can be distributed early morning, and the fresh stuff is on the shelves same day. Putting it onto a daytime sailing would add another day to its delivery time, because it would arrive here after everyone has knocked off for the day. Newspapers would have to come by plane (even more expensive).

Most passengers come on daytime sailings, and with few passengers travelling, it looks easy to take off the daytime sailing...... but..... most of the people coming over will have been "essential workers", and making them travel overnight is not exactly looking after them!

It looks as though Government decided that the schedule ought to be maintained, and for once I think they were right.

From my experience of sailings over the last 15 months the numbers were consistent whichever sailings, in either direction. Except in the run up to Christmas.

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5 minutes ago, TerryFuchwit said:

Hardly a surprise.  The two biggest passenger volume events cancelled.  No visitor or off island traffic.  Hardly a surprise or rocket science.

I analysed that above. The biggest loss of revenue was ordinary travelling Manxies. Not TT or GP.

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17 hours ago, Derek Flint said:

They could have run one sailing a day. There was massive deck capacity for trailers due to there being very few cars. It would have challenged logistics for sure, but it would have reduced fuel costs by 50% - and the environmental impact. 

Sailing twice a day was flag waving. Nothing else.

Operating costs were down from nearly 25m to just over half that.

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1 hour ago, monasqueen said:

Most passengers come on daytime sailings, and with few passengers travelling, it looks easy to take off the daytime sailing...... but..... most of the people coming over will have been "essential workers", and making them travel overnight is not exactly looking after them!

But there won't have been that many essential workers and some of them were delivery people in any case or coming with specialised transport and most of those would be OK with overnights.  A lot of the other essential workers (eg for DHSC) would have come by air.  You're talking about only a couple or maybe none a sailing.  And most essential workers of this sort are paid a premium in any case for putting up with inconveniences - it's part of the job.

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20 hours ago, Frances said:

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

Actually, freight held up pretty well, given the circumstances - not unsurprisingly its passenger revenues that fell off the proverbial cliff37FC6B72-348F-4F62-8E2B-341AEFEAFCDB.thumb.jpeg.aef37bf96b2ae70076998cad7a6df915.jpeg

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4 minutes ago, bankerboy said:

Actually, freight held up pretty well, given the circumstances - not unsurprisingly its passenger revenues that fell off the proverbial cliff37FC6B72-348F-4F62-8E2B-341AEFEAFCDB.thumb.jpeg.aef37bf96b2ae70076998cad7a6df915.jpeg

The frightening thing there is that £5 million is spent in bars and cafes in a normal year.

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1 hour ago, John Wright said:

I analysed that above. The biggest loss of revenue was ordinary travelling Manxies. Not TT or GP.

Don't tell Laurence or RC that.... 😂

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18 minutes ago, The Voice of Reason said:

Have you seen their prices lately?
Thats just two all day breakfasts and a couple of pints

Interesting thing is that spend per head went up last year.

(assume that’s because lots booked cabins )

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