After 50 years of going back and forth between France and England, the French shipowner is going through the biggest storm. The company will receive exceptional support of 45 million euros and benefit from debt relief in the amount of 16 million euros.
the past two years, Brittany phrases It accumulated losses of 220 million euros. It is an amount to which must be added the 115 million deficit for four years due to the fall of the pound sterling.
The health crisis, along with Brexit, weakened the company, which had to close several lines between France and England, disarm six of its twelve ships, and put some of its employees on short-time work. To reduce its losses, it had to reorganize traffic and switch to shipping.
Headquartered in Roscoff, in Finistere, Brittany, and sailing under the European and even French flag for some of its ships, Brittany Ferries is the main employer of French sailors and occupies an important role in the Breton and Norman economy.
long term loan
The €45 million French state aid is excellent news for the company. In the form of a long-term loan, the country relies on the European Fund to help companies hardest hit by Brexit to finance it.
In the wake of the state, the Agency for Environmental Transformation (Ademe) canceled a loan of ten million and the Brittany region abandoned the repayment of the aid of six million.