'Significant doubt' over Condor Ferries' future if they fail to secure Channel Islands' tender

Condor Ferries are understood to be up against DFDS Seaways and Irish Ferries in bidding for the Channel Islands' passenger and freight contract. Credit: ITV Channel

An independent audit into the holding company of Condor Ferries says there is "significant doubt" over the operator's future if it fails to renew its contract for the Channel Islands' routes.

Condor is currently bidding to provide passenger and freight services to Jersey and Guernsey but ITV News understands that Irish Ferries, along with DFDS Seaways, are also in the running.

In Condor UK Holding Limited's latest accounts, appearing on Companies House in August, an independent auditor believes the company may struggle to survive without its Channel Islands' services.

The auditor's report states: "The Directors are confident that the formal tender submitted met the requirements and place the wider group in a positive position for the tender process.

"However, the success of the wider group being awarded with the Operating Agreement involves factors outside the direct control of the wider group.

"These conditions indicate the existence of a material uncertainty which may cast significant doubt about the group's and the company's ability to continue going as a concern."

The auditor also states that their report does not include adjustments if they fail to gain the tender for the Channel Islands.

Condor Ferries, a subsidiary of the Holdings company, made a loss of almost £1.5 million in the 2022-23 financial year.

Interim Chief Executive Christophe Mathieu previously told ITV News that Condor want to make routes "more reliable" with "better schedules". Credit: ITV Channel

The Condor UK Holdings Limited Strategic Report says the company are still focused on delivering value for money services, adding that it continues to deliver "good operational standards".

The final contract is due to be awarded by the Governments of Jersey and Guernsey at the end of September with Jersey officials stating that the decision process remains "on schedule".

However, ITV News understands that the interested companies, who were due to find out whether they had made the tender shortlist in July, still had not heard as of Wednesday 14 August.

Condor's current contract is due to run out in March 2025.

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