The company, which has its UK headquarters in Plymouth, saw revenue sink by €267 million as the pandemic slashed passenger numbers to 752,102 in 2020 from 2,498,354 in 2019.
Despite receiving €117 million in French government-backed loans from French banks, and other regional support across the Channel, the company still needed more support. It has now been bailed out with “exceptional aid" of €45 million and has thanked French President Emmanuel Macron for coming to the company's aid.
Brittany Ferries said that for more than a year it had warned the French state of its deteriorating financial situation as it battled the Brexit and Covid crises. In particular, the closure of passenger services on the English Channel, a direct consequence of travel restrictions put in place by various European governments to control the pandemic, had a huge impact.
This story is from the October 26, 2021 edition of The Herald.
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This story is from the October 26, 2021 edition of The Herald.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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