Cross-solent ferry operator Red Funnell is reportedly up for sale for £200m after appointing NM Rothschild and Sons to advise on a strategic options review. 

The company, who have operated ferries between Southampton and the Isle of Wight since 1861, was bought in 2004 by Edinburgh-based HBOS and a Red Funnell management consortium for £60m. The owners now wish to sell the operator as a going concern. The 400 staff currently employed by Red Funnell will not be affected.

Tom Docherty, managing director said “We’ve no changes planed in the senior management team or in our on-going commitment to provide a pre-eminent cross-Solent ferry service. It’s very much business as usual.”