Birka Line sinks into the red

Ferry company Birka Line has announced a loss before tax for the first six months of the year of 8.4 million euros. That compares to a profit of 4.8 million euros for the same period last year.

According to Birka Line the reversal of fortunes is due to tougher competition and higher oil prices.

Turnover increased by 38% to 53 million euros.

TT/The Local