Red Funnel

Red Funnel

Red Funnel's passenger catamaran Red Jet 3 passes Cowes Parade
Industry	Transport
Founded	1861
Headquarters	Bugle Street, Southampton, England
Area served	Southampton - Cowes Southampton- East Cowes
Brands	Red Funnel Red Jet Red Funnel Holidays Steam Coffee Company
Revenue	£45,4 million (2014)
Operating income	£14.3 million (2014)
Profit	£9.7 million (2014)
Total assets	£44.6 million (2014)
Total equity	£39.4 million (2014)
Owner	Infracapital Partners LP (infrastructure fund of the Prudential)
Number of employees	500
Website	http://www.redfunnel.co.uk/
Footnotes / references Red Funnel's house flag

Red Funnel (formally the Southampton Isle of Wight and South of England Royal Mail Steam Packet Company Limited is a ferry company that carries passengers, vehicles and freight on routes between the English mainland and the Isle of Wight. High-speed foot passenger catamarans, known as Red Jets, run between Southampton and Cowes, while vehicle ferries run between Southampton and East Cowes.

Red Funnel's main competitor is Wightlink whose services operate from Portsmouth to Fishbourne and Ryde, and from Lymington to Yarmouth. The other major Solent ferry company, Hovertravel, operates between Southsea and Ryde. Both provide a frequent service to the Isle of Wight, but neither normally serve Southampton, Cowes or East Cowes.

The origins of Red Funnel date back to 1820, when the Isle of Wight Royal Mail Steam Packet Company was established by Cowes interests to operate the first steamer service from there to Southampton. In 1826, the Isle of Wight Steam Packet Company was formed in Southampton, and by the following year the two companies had started co-ordinating their operations. In 1860, the Southampton, Isle of Wight & Portsmouth Improved Steamboat Company was created to compete with the two established operators, and the threat posed caused the two older companies to merge. They subsequently acquired the assets of the Improved Steamboat Company in 1865.