Gibbons bids for Red Funnel ferry purchase

Gibbons bids for Red Funnel ferry purchase

PASSENGER Shipping Association director Bill Gibbons is part of a consortium bidding to buy the Isle of Wight ferry operator Red Funnel Ferries.

The ferry company was put up for sale by its owner, Associated British Ports, earlier this year, and several consortia are believed to have made competing offers.

Gibbons confirmed he was involved in one of the bids. He stressed that he had kept the PSA’s management council fully informed of his actions but declined to comment further.

Before joining the PSA as director in 1994, Gibbons was general manager of Sealink’s Isle of Wight arm, which was sold off and now operates under the name Wightlink.

Industry sources suggest that Gibbons’ bid and at least one other offer have been rejected by ABP already. However, the port operator has refused to make any comment on the bidding process or reveal when a decision will be announced.

Gibbons: confirmed he was one of the contenders