It’s understood a financial restructuring deal has cut the Steam Packet’s debt by around half.
Although bosses are refusing to reveal the exact figures, Manx Radio understands it’s halved the amount, which stood in the region of £226 million.
Chairman Robert Quayle says the announcement was made to coincide with a public meeting held by The Ellan Vannin Line, a potential new rival to the firm.
Amber weather warning issued as strong winds and coastal conditions expected overnight
Ferry sailings cancelled as gusts of up to 80mph forecast, with risk of coastal overtopping in exposed areas
Hospice funding criticised by UK charity chief amid Isle of Man service cuts
Comments come as Hospice Isle of Man confirms redundancies and financial pressures
Sailings cancelled as storm brings gale-force winds
Yellow warning issued with gusts up to 80mph expected in exposed areas
Manx Mountain Marathon route diverted over safety concerns amid forecast strong winds
Organisers alter coastal section of course ahead of Saturday’s races as conditions expected to worsen