CTMA: A Season that Went Well Despite the Pandemic

By | 2020 Newsletter week 41 | No Comments

CTMA says in a French press release it is pleased with the smooth operation of the tourist season, despite the pandemic.

CTMA Ferry provides regular ferry service between Souris, Prince Edward Island and the Îles de la Madeleine.

Nearly 19,000 visitors, excluding residents of the Îles de la Madeleine, accessed the archipelago via the ferry, while public health authorities set the visitor limit at 35,000 during the peak season.

In addition, the ferry MADELEINE (former LEINSTER, 1981) made 117 crossings compared to 170 last year.

Normally, the CTMA Ferry makes annually about 300 trips, carrying a total of more than 100,000 passengers and 41,000 vehicles.

Fjord Line is Preparing for Long-Time Effects of Corona

By | 2020 Newsletter week 38 | No Comments

“We are now preparing for the fact that it may take a long time before we return to normal operations,” says Rickard Ternblom, CEO of Fjord Line.

The effect of the measures that were taken before the summer with cash support, refinancing, internal restructuring and equity, is estimated at NOK 700 million in positive cash flow for 2020, and secures operations throughout this year. The company believes it shows that owners, banks, lenders and other suppliers and partners have great faith in the business model and the long-term goals.

Even with the authorities’ extended redundancy rules, compensation scheme and loan guarantee scheme, we will not escape the fact that employees will be affected. Up to 200 people will be laid off. Cost reductions are the only thing that helps when revenues fall as dramatically as what we have experienced in recent months, says Ternblom.