Irish Ferries has entered a space-sharing agreement with P&O Ferries on the Dover-Calais route, promoting flexibility and options.
- The space charter aims to provide more frequent sailing options while keeping commercial operations separate.
- This agreement enhances the position and customer offering of both operators, setting a foundation for future growth.
- The introduction of the Oscar Wilde vessel adds capacity to the Dover-Calais line and supports strategic fleet changes.
- Irish Ferries has reported increased passenger volumes and revenue following these strategic moves.
Irish Ferries has formalised a space-sharing arrangement with P&O Ferries on the Dover-Calais route, seeking to increase flexibility and options for customers. This strategic move allows both companies to offer more frequent sailings while maintaining control of their commercial activities independently.
The space charter agreement is seen as a significant enhancement for both operators’ offerings, boosting their competitive position on the route and providing a robust base for growth in the latter half of the year and beyond. It particularly strengthens Irish Ferries’ customer offer.
Central to these developments is the introduction of the vessel Oscar Wilde, previously known as the Spirit of Britain. Acquired through a €89.4 million transaction, combining a two-year charter and a subsequent purchase obligation, the ship has added substantial capacity to the Dover-Calais service during the busy summer travel period.
The fleet adjustments have been strategically aligned to optimise operations. The former Isle of Innisfree was relocated to the Rosslare-Pembroke route following a refit, while another vessel was reassigned to the Dublin-Holyhead route, facilitating the return of a chartered vessel to its owners.
Financially, this strategic shift correlates with a positive performance in the first half of the year. Irish Ferries recorded an operational profit of €9.5 million, up from €5.3 million in the same period the previous year. Passenger numbers surged by 22% to 1.3 million, and there was a 21% increase in car volumes to 277,200. Consequently, passenger revenues grew by 16.8%, evidencing the success of these strategic efforts.
The space-sharing agreement and strategic fleet adjustments have significantly bolstered Irish Ferries’ market position and financial performance.
