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.
Storm Boelo updates
Weather warnings will be in place throughout the weekend
New amber warning issued
Storm Boelo is bringing strong winds and rain to the Island
Island Rotary Club Marks World Polio Day
Rushen & Western Mann branch donates to disease eradication fund
Douglas Council says 'anti-fragile' systems in place to deal with severe storms
Leader Devon Watson says council budgets for 'unforeseen circumstances'