Island ferry operator taken over by new owners

An Isle of Wight ferry operator has been bought by new owners after facing financial challenges over the last five years.

Red Funnel, which has served the island for more than 164 years, has been taken over by Njord Partners, the UK-based company announced on Monday.

The operator has struggled in recent years due to debt and also faced criticism over high ferry prices and unreliable crossings.

Chief executive Fran Collins said they were "delighted" to work with Njord Partners as the company entered a "new chapter".

"Our priority is to ensure Red Funnel operates sustainably and responsibly for decades to come, delivering high-quality, reliable, and friendly services across the Solent," she said.

Njord Partners also operates Valiant Pub Company, Ambassador Cruise Line, and Geoquip Marine.

Founding partner Jakob Kjellberg said Red Funnel was a "vital part of the Isle of Wight's economy and community".

"We are excited to support Red Funnel's next chapter, restoring its financial health and empowering its people to deliver the reliable, efficient service that islanders and visitors deserve," he added.

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