Steam Packet refuse to reveal extent of debt

The Steam Packet Company has refused to reveal its level of debt saying it is ‘irrelevant’ for the information to be in the public domain.

Yesterday it announced it had reduced the amount of money it owed significantly by carrying out a financial restructure.

The restructure was achieved without the need for government funding and the company says this in itself is an achievement meaning Island ferry services do not require external support.

Chairman Robert Quayle says the public doesn’t need to be told the figures involved: