Get the latest news from Manx.News

SPC offers 'innovative' revenue sharing deal as part of future plans

Sat, 28 May 2016

The Steam Packet says it will introduce an "innovative" revenue sharing mechanism if government accepts its offer to provide long term sea services.

It says it will share 50 per cent of future growth - above an agreed level - a deal which could be worth £38 million.

This week the company revealed its Strategic Sea Service Agreement - an offer it says has wide ranging benefits for all stakeholders without the need for public subsidy.

Chief executive Mark Woodward says the proposed agreement would also protect people in difficult times:

---

Media

• Mark Woodward