The owner of Irish Ferries, the Irish Continental Group said it has been forced to pass on increased costs to consumers in the form of higher prices.
In a trading update (see also) the ferry operator reported an 80 per cent increase in revenue to €161 million for the first four months of 2022 while noting car and freight traffic had increased significantly.
The increase was principally due to the easing of travel restrictions as compared to the same period last year, increased fuel surcharges and the new Dover – Calais service which commenced in June 2021, it said.
Total revenues across the group’s ferries division amounted to €98 million, up 165 per cent on the prior year. Irish Ferries carried 123,600 cars, an increase of 682 per cent on the previous year while freight carryings were 223,900 units, an increase of 170.7 per cent compared with the same period in 2021.
The group said its cost base has been affected by higher global prices, particularly fuel prices and charter rates.
The Irish Times reports more including plans by the UK government to prevent ferry companies operating out of UK ports paying below the country’s minimum wage.
As Afloat reported previously reported this could have implications for Irish Ferries.
