John Luxton
Established Member
It appears that Isle of Man Railways have not had a good year in 2024 with losses of £3.5million reported. However, the nationalised operation is credited with adding £17 million to the Island's economy. A review is underway. This follows on the heels of a Systra Review last year. Weather and additional spending (£5.7M) have been blamed for the deficit. Putting things into context of other transport spending the IoM Government has been criticised for overspend on the new Liverpool Passenger Terminal and have had to raise income tax this year.
www.iomtoday.co.im

Isle of Man's heritage railway attractions lose £3.5m in a year as review underway
But it’s estimated the attractions benefit the Manx economy by around £17m a year
"The Isle of Man’s railways suffered £3.5m losses in the last year.
The Department of Infrastructure (DOI) development plan for 2024-25 has revealed the heritage lines, which includes the steam railway, electric trams and horse trams, generated £2.2m but expenditure ran to £5.7m which means they ended £2.25m in the red."