FERRY company Wightlink has responded following questions about its finances from Isle of Wight MP Andrew Turner.
But Mr Turner said their response failed to address points raised about the company's finances.
In a statement issued today (Thursday) the company said: "Wightlink has recently revised its timetables to match more closely with customer demand.
"In response to very low passenger numbers, a small number of overnight sailings no longer operate.
"Despite an extensive marketing effort to increase passenger numbers, the night sailings were poorly used.
"The affected sailings operated at very low capacity (on average, 93% empty for passengers and vehicle decks 80% empty) with staff often outnumbering passengers.
"Like many local businesses, Wightlink has been impacted by the challenging economic climate.
"Falling tourism and higher fuel costs are some of the factors that are impacting our business.
"The timetable changes were made to secure the long term future of Wightlink for the benefit of all Islanders and customers.
"The provision of ferry services has recently been commented on by the Department of Transport.
"They point out that with three providers of cross Solent services with 230 daily crossings, there is an adequate ferry provision, even if a small number of services at unsocial hours have been curtailed.
"The owner of Wightlink, Macquarie European Infrastructure Fund 1(MEIF1), has remained committed to our company despite difficult economic conditions.
"It has demonstrated this commitment with capital investment of more than £50 million for new ships and shore infrastructure.
"Furthermore, no profits or cash have been taken out of the business during its current ownership.
"Both Wightlink and MEIF1 abide by all applicable tax laws."
But Mr Turner, who questioned the company's tax arrangements said: "The statement is interesting, but does not appear to answer any of my questions or address the 17 per cent inter-company loan interest rate issue.
"Hopefully we will get more clarity from McQuarie chief executive Nicholas Moore who I am writing to."