The operators of the Cork to Swansea ferry, the Fastnet Line, say they have until midday tomorrow to raise €1.6m if a rescue plan for the service is to be viable.
A special meeting of Cork County Council today agreed to put a further €200,000 into the service, bringing its investment to €500,000.
Mayor of Cork Tim Lombard said this was the last crack of the whip and it was important to try to save the service because it is worth over €30m in tourism revenue to the southwest region.
Examiner Michael McAteer is due to present a rescue plan to the High Court tomorrow.
But operators still have to persuade Cork City and Kerry County Councils, as well as Enterprise Ireland and Finance Wales, to come up with the remaining €1.4m needed for the plan.
Fastnet Line's Acting Managing Director Pardraic O'Kane said that the ferry service will collapse if any of the parties pull out.
