In October 2020, in the midst of the Covid health crisis, and in order to help Brittany Ferries faced with the closure of its passenger lines, the Brittany and Normandy Regions voted for emergency aid schemes - repayable advances - of EUR 30 million for Brittany and EUR 35 million for Normandy respectively. True to its commitments, the Breton Armament will fully reimburse the Brittany Region on 23 October and the Normandy Region at the beginning of November 2024.

Finally, the repayments of the State Guaranteed Loan (PGE) began in December 2022. More than 1/4 of this PGE of EUR 117 million has been repaid by this date (EUR 33.4 million). In two years, nearly EUR 100 million will have been raised to significantly reduce the Company's debt. With this significant effort, Brittany Ferries reassures its partners of its capacity for rapid recovery and the launch of new structuring and wealth-creating projects.

Opening of Brittany Ferries' capital to new Breton shareholders

Following the Covid crisis, Brittany Ferries' historic shareholders have decided to consolidate and open up the capital to new investors. A first extraordinary general meeting, in June 2023, had approved an increase in the capital of CMA-CGM.

In September 2024, eight new companies will also enter the company's capital. Louis Le Duff, the Société financière de la Loire, Alain Glon Holding, IDEA Future, HELEA, PATRI, TM PARTICIPATIONS ou FOR INVEST are eight economic flagships of Brittany that further anchor its regional identity and base. They thus join the Breton "pack" of historic shareholders made up of Breton cooperatives, which remain in the majority (75%).

New horizon for Condor Ferries with Brittany Ferries

In 2019, Columbia Threadneedle Investment (CTI), an American investment fund, acquired 72.28% of Condor Ferries' capital from an Australian fund, Macquarie Group. Brittany Ferries supported it in this acquisition. But Condor Ferries, which has been connecting the United Kingdom and France to Jersey and Guernsey for 60 years, suffered greatly during the two years of the Covid crisis. It maintained supplies to the Channel Islands despite everything, without being granted any compensation and its financial results were significantly impacted.

Brittany Ferries has decided to take responsibility. During the summer of 2024, Armement Breton finalized its takeover of 51% of Condor's capital. It will thus become the majority shareholder (approved by the Jersey Competition Authority on 12 September). The last French cross-Channel ferry company, Brittany Ferries will apply to Condor Ferries the keys to its own success with a common management and strong values. Starting with the defense of a social model for sailors and a reinforced commitment to maritime decarbonization of which the Breton Armament is a pioneer in France, first signatory of the French and British Social Charters.

With Brittany Ferries, Condor Ferries will be able to turn, from September 2024, a new page in its history and strengthen the link between France and the United Kingdom in the service of the development of Jersey and Guernsey.

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