Red Funnel Secures Major Government-Backed Investment To Transform Ferry Services

Red Funnel has entered a “major new chapter” today (Monday 1st December) after the Government formally approved a deal to secure long-term investment in the cross-Solent operator.

The agreement will see the company’s debt reduced by more than 75%, putting Red Funnel on a firmer financial footing and paving the way for significant investment in new vessels and terminal infrastructure.

Red Funnel and new owners Njord Partners say they will work closely with customers, Island residents, staff and local stakeholders to deliver long-term improvements.

Key priorities include:

• More reliable, punctual and friendly services all year round

• Fair, transparent pricing with improved discounts for frequent travellers

• Modern, seamless travel supported by better digital systems and journey information

• Cleaner, lower-emission vessels designed around the needs of the Island and visitor economy

• Investment in terminals and infrastructure in East Cowes, Southampton and across the Solent

Fran Collins, CEO of Red Funnel, said the partnership gives the ferry firm “stability and confidence” to drive forward long-awaited improvements.

She said:

“Securing the backing of Njord Partners gives Red Funnel the stability and confidence to progress with real ambition and renewed focus.

"Njord Partners brings trusted experts with strong experience in maritime, tourism and hospitality, and a genuine understanding of the importance of this lifeline service.

"With their financial and operational support, we can now deliver the improvements that local residents and visitors rightly deserve.”

Jakob Kjellberg, founding partner of Njord Partners, added:“Red Funnel is a great company.

"The Isle of Wight is a great place to live and visit. We are delighted to be the new owners of Red Funnel and to invest to create a platform for economic growth, supporting both the local community and tourism.

"We are excited to build on the long legacy of this essential lifeline service and work hard to improve business performance and regain the trust of all stakeholders.”