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Steam Packet receives £5m gov't investment

Extra funds made available following £10.5m loss

An extra £5m is being made available to the Steam Packet Company after the operator lost more than £10.5m last year.

The Isle of Man Government says the equity investment is designed to address the commercial impact of the coronavirus pandemic.

Treasury Minister Alf Cannan says the government-owned company has provided a vital service throughout the outbreak, but didn't claim government support despite the impact on its income.

The Steam Packet's full accounts for 2020 were published ahead of this month's sitting of Tynwald.

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