Cowes Floating Bridge ferry loses nearly £1m since launch

The £3.2m Floating Bridge Number 6 has been beset by problems since entering service in May 2017

A £3.2m chain ferry which has suffered repeated technical faults made a loss of nearly £1m since coming into service two-and-a-half years ago.

Cowes Floating Bridge on the Isle of Wight has suffered numerous breakdowns and mechanical problems.

A council spokesman said the "challenges and the costs incurred in fixing them" were the subject of ongoing legal advice.

Independent group councillor Karl Love called the losses "unacceptable".

A request under the Freedom of Information Act revealed the difference between income and cost was highest in 2017-18 at £547,991, the Local Democracy Reporting Service said.

The service lost £64,112 in the first five months of the financial year.

The vessel that it replaced in 2017 turned a profit of £120,452 during 2015-16.

'Not viable'

Costs have included £149,000 for a barge to push the floating bridge across the river and more than £181,000 for a launch service for foot passengers.

The Conservative-led council is also offering a free saver card, which provides discounted travel, for the duration of major roadworks at St Mary's Roundabout.

The spokesman said: "Any additional subsidy in recent years represents the council's commitment to maintaining the link between East and West Cowes while it attempts to resolve challenges with the new vessel."

Mr Love, councillor for East Cowes said: "Any right-minded business manager would identify the current operation is not viable or sustainable and would look to be making significant changes and decisions about its operation and future."

The ferry has experienced a number of failures since it started operating in May 2017.

Issues include it regularly running aground, being taken out of service after a chain broke during a crossing and electrical faults.

A launch service for foot passengers ran between Cowes and East Cowes while the ferry was suspended but drivers faced a detour of up to 11 miles (18km).