In September 2020, the loss generated by taking the Floating Bridge out of service and needing to run a replacement foot passenger service was nearly £100,000 – and that’s after ticket income has been taken into account.
This is a further revelation uncovered by News OnTheWight studying the figures discovered from a Freedom of Information request (FoI).
The Floating Bridge was out of service for 13 weeks over the summer (from 14th July to 20th October), with the Jenny Lee and Water taxi both being used to ferry foot passengers across the River Medina that provides the vital link between Cowes to its East Cowes sister.
Lost £95k in one month
In September alone the Isle of Wight council lost £95,500 on this service. The cost of putting on the replacement services (£113,554) far outstripped what they received in foot passenger fares (£18,004).
There was a loss in August 2020 too. FB6 was out of action for repair, so the replacement foot passenger service had to run, at the cost £28,475. With a ticket income of £14,240 – there was a loss to the taxpayers of £14,235.
Most comprehensive breakdown of costs
News OnTheWight is breaking down the costs from a selection of the more interesting of the 36 categories that have come to light thanks to the detailed Freedom of Information request made by the Floating Bridge Stakeholders’ and Engineers’ Group, such as over £1m paid for ‘private contractors’ and ‘professional services’.
More on the way
We’re planning to publish these over the next few days – a Deep Dive Series – so check back here to dig into the story – or sign up for our daily newsletter.