The chairman of the Steam Packet says the company is now on a sounder financial footing after significantly reducing its debt.
That debt stood in the region of £220 million three years ago.
But after a year of negotiations with its syndicate of lenders, Robert Quayle says the company can now plan for the future with confidence.
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Plans submitted for 'significant' flood defences in Ramsey
Include installing a four-foot flood wall at West Quay
Tributes paid to cancer awareness campaigner
Sarah Jarvis has died at the age of 60
Police bail for two people arrested in Ramsey incident
One person was treated for injuries that were described as non-life-threatening
WCAS to extend opening hours next month
It's thanked patrons for their patience during 'very difficult times'
Government support for two 'long-stalled' Douglas developments
Former Newson's building and Duke Street site offered assistance through Island Infrastructure Scheme