 The firm was given permission this summer to run car ferries to France |
French ferry company, Emeraude Lines, which runs services to and from the Channel Islands has been given the chance to restructure at a French court. The company is not going to be forced in liquidation, but has been granted a three month reprieve.
The French carrier, which began services to Jersey from St Malo in 1970, is believed to be heavily in debt and needs four million euros to survive.
Emeraude's staff threatened to strike on Thursday afternoon if the company's future was not clarified.
Three factors are being blamed for the company's problems - disappointing passenger figures, a price war with rivals Condor - which was given permission by the States this summer to run car ferries to France - and the falling pound.
Sources in St Malo are optimistic about the company's survival.
Deputy mayor and Regional Councillor Henri-Jean Lebeau said he was "reasonably confident" about Emeraude's future.
One-Minute World News 
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