The Swansea-Cork Fastnet ferry service is to close with the loss of 60 jobs
The owners, The West Cork Tourism Co-Operative Society, made the announcement today after they failed to raise adequate funds.
The business employed seven full-time shore employees based in Cork and 53 full-time contracted staff on board the MV Julia. It operated the service from 2010.
Last November, the route was placed into interim examinership.
At the time the owners said high world oil prices were severely hampering its finances.
The owners say the closure of the line will result in €30m being lost to the Munster area and over €20m to the south Wales area in tourist spending.
