Liscannor Ferry Company Ltd, which trades as Doolin2Aran Ferries, has agreed to sell its Doolin ferry service to Baid Farantoireachta An Chosta Teoranta for an undisclosed sum.

Under the terms of the agreement, the Garrihy family-owned business will sell its two 200-passenger ferries, the Star of Doolin and the Spirit of Doolin, as well as the Doolin Discovery, offices and equipment to the Bill O'Brien's Baid Farantoireachta An Chosta Teo, which trades at The Doolin Ferry Co.

The Garrihy family had been involved in the local fishing industry in North Clare, Doolin and the Aran Islands for many years prior before brothers Joe, PJ, Eugene and Donie Garrihy founded the company in 1999. It now carries over 100,000 passengers per year.

"We felt the timing was now right after discussions within our family. My father and brothers are steeped in the traditions and connections between the Aran Islands and Doolin, starting with fishing and ultimately moving on to the ferry business 23 years ago," said Eugene Garrihy, director of Liscannor Ferry Company.

"I’d like to recognise the hard work of my brothers along with our loyal employees in building a business that carries over 100,000 passengers per annum and contributed strongly to the economy of North Clare and the Aran Islands. It was also a pleasure to have played a role in the development of the new pier at Doolin."

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Eugene Garrihy said the company has "competitive but strong working relationship with the O’Brien family" over the years and wish them the best in taking over the business, which will retain all staff following the acquisition.

"With the sale of the Doolin business, I look forward to devoting more of my time to expanding the Dublin Bay Cruises business," he added.

"Over the past decade, we have successfully established the first cruising business in Dublin and grown it to a position where it carries more than 40,000 passengers per annum and hope to significantly expand these numbers in the coming years, concentrating on the corporate and tourism markets.”

Accounts for the 2020 financial year show Liscannor Ferry Company made a loss of €151,000 during a Covid-ravaged year compared to a €41,000 profit in 2019. The company employed 33 people that year, no change from the year prior.

The balance sheet shows fixed tangible assets of €4.3m, up from €2.9m in 2019, with outstanding bank loans of €3.2m, and just under €1.3m in equity attributable to the owners. Director remunerations totalled €74,000 in 2020.

Baid Farantoireachta An Chosta Teoranta's accounts show the firm booked a loss of €201,000 in 2020 compared to a €112,000 profit in 2019.

Photo: Liscannor Ferry Company's Spirit of Doolin.