On Air Holiday Music Kerry Gascoyne | 6:30pm - 8:15pm

Steam Packet debt cut by about half

It’s understood a financial restructuring deal has cut the Steam Packet’s debt by around half.

Although bosses are refusing to reveal the exact figures, Manx Radio understands it’s halved the amount, which stood in the region of £226 million.

Chairman Robert Quayle says the announcement was made to coincide with a public meeting held by The Ellan Vannin Line, a potential new rival to the firm.

Clip 1

More from Isle of Man News