The Solent Transport Users Group (STUG) has expressed concern about the possibility of Red Funnel ferry services being sold to another private equity firm.
The group says it believes further private equity ownership could have a negative impact on the Island’s transport links. It is calling for any future sale to take account of the long-term needs of residents and the local economy.
Concerns about service quality
STUG says members have observed a decline in the quality, reliability and affordability of cross-Solent travel in recent years. The group believes this is linked to a focus on financial returns rather than public service provision.
It also draws comparisons with challenges faced in other industries, such as the water sector, where similar ownership models have been used.
Reports of potential new owner
The group says it has seen reports that Red Funnel is being considered for acquisition by Northleaf Capital. It states that it favours alternative buyers who, in its view, may be more motivated by public interest considerations.
STUG has said it will continue to make its views known to decision-makers and to campaign for ferry services to be run in a way that it believes will best serve the Island community.
Encouraging residents to write
STUG is encouraging residents, passengers, and supporters to share their views directly with Northleaf Capital.
The group has provided an email address for Roderick Gadsby, which is already publicly available on the company’s website: [email protected].
Call for public engagement
The group says it will continue to campaign for ferry services that meet the needs of residents, businesses, and visitors, and will remain active in discussions about the future of cross-Solent travel.
