Brittany Ferries secures €25m Covid recovery investment

Brittany Ferries has attracted a €25 million investment to support its recovery from the Covid crisis.

The cash injection is being made by shipping and logistics firm CMA CGM Group and includes €10 million in ‘quasi-equity’.

The deal establishes a commercial partnership through the use of available cargo space on board the French ferry company’s services to the UK, Ireland and Spain.

“Through this agreement, CMA CGM is seeking to support Brittany Ferries’ post-Covid-19 recovery,” the firm said.

Both companies have also undertaken to introduce more environmentally-friendly shipping and logistics solutions.

Two new LNG-powered ships are due to join Brittany Ferries’ fleet next year and in 2023.

The new vessels, to be named Salamanca and Santona, will operate services between the UK and Spain.

Brittany Ferries is also about to introduce a new rail freight service to expand its multimodal offering.

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