Guernsey and Condor reach agreement on deal to buy additional conventional ferry

April 6, 2023
  • Condor and the States of Guernsey have concluded a 50/50 joint venture agreement for the purchase of an additional ferry. [see the news: Condor Ferries buys STRAITSMAN]
  • The aim is to increase the resilience of the Island’s lifeline sea links with the UK, France and Jersey.
  • The deal will see both parties investing £3m of equity in the joint venture to own the second ‘ropax’ ship – the CONDOR ISLANDER – and receive a commercial return from the ferry operator. In addition, the States of Guernsey have made a loan from the bond of £26m, which will be repayable at a fixed rate of interest over 10 years.