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.
Manxman sailing cancelled following late arrival into Douglas
Vessel assisted by tug as she came into harbour
Calls for 'transitional protections' for migrants on five-year immigration path
Campaigner: "The impact here will be very different to the impact in the UK"
'No decisions have been made' over future of Ballabeg Methodist Church
Public gather to discuss future of chapel
Manxman's departure to Heysham delayed
Steam Packet to issue an update at 7.45am
MHKs question whether horse tram costs are a 'bit of a nonsense'
DoI claims costs for relaying tracks impacted by 'recent global events'