Cork-Swansea service pulled
An Irish High Court has today announced the end of the Cork-Swansea ferry service after the operators, Fastnet Line, failed to secure the required funding to recommence sailing.
The route has been out of operation since October 2011 when Fastnet Line went into examinership - a form of Irish bankruptcy protection - citing higher than expected fuel prices for it's finanancial difficulties. However, it had been hoped that they would secure funding to operate a seasonal service between April and September.
The Irish Examiner reported that they had secured €300,000 from Cork's two local authorities earlier this week, but were hoping for €400,000 from Enterprise Ireland and €800,000 from Finance Wales. However, when talks broke down with Enterprise Ireland late on Tuesday 1st February, Finance Wales also pulled out.
With no last-minute investor emerging this morning the service ended.
Fastnet Line had begun operating the route in March 2010 after a co-operative of business and tourist interests in the Cork & Kerry region had raised funds to purchase the MV Julia.
