Summary
A pounds-6M subsidy "top-up" enabled "lifeline" ferry operator NorthLink to post a hefty profit last year, but surplus cash will not be refunded to the taxpayer.
If NorthLink fails to win a new contract to run services to Orkney and Shetland, the company will be wound up and any retained profits split between joint venture shareholders Royal Bank of Scotland and Caledonian MacBrayne.See the full content of this document
Extract
Northlink Ferry Profits Buoyed by Subsidy
The increasing level of subsidy paid to NorthLink was the reason the Scottish Executive decided...
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