OFT Market Study findings into Isle of Wight Ferry Services

12-06-2009 The OFT today published the findings of its Market Study into the Isle of Wight Ferry Services which it commenced back in February 2009.

Red Funnel appreciates the speed with which the OFT has completed its review given the significant amounts of detailed information they have had to process. Consumers can now be confident that the Isle of Wight offers a high quality, good value holiday and leisure destination, as the industry gears up for its all important summer season.

James Fulford, Red Funnel CEO quotes:

“We welcome the comments of the OFT which noted: the comprehensive high frequency service, consumers’ ability to find more attractive deals in advance, pricing has broadly matched movements in inflation, and shifts in market share between the operators prove that a real choice exists.

We note the OFT's comment on customer satisfaction.  

We had made some improvement in this respect over the past few years.  In the past few months, feedback to me shows that we have accelerated this trend. We are not happy to stand still, and aspire to doing a lot better on all aspects of customer satisfaction, enjoyment and service.  Our recent investment in a new vessel for our Red Jet Hi-Speed service is just one example of this.

We welcome the OFT’s suggestion that we publish clear information to consumers to share with them the progress that our team is making on this journey.”

Red Funnel looks forward to working with the OFT during the further consultation phase of the process.