UPDATED 16:41*
A FERRY passenger was rescued this afternoon (Thursday) after jumping off the vessel.
Crew members on board the Red Falcon rescued the man, who is believed to have jumped overboard at11.45pm after losing something over the side.
The crew launched a rescue boat to retrieve the man and had to resucitate him, according to chief executive James Fulford, who said the man was now conscious.
The boat was met at East Cowes by an Isle of Wight ambulance crew.
"We will be launching a full investigation. It could have been very nasty.
"It appears he dropped something dear to him over the side and decided to jump in after it," said Mr Fulford.
He added: "The ship's rescue boat and crew were mobilised and successfully rescued the individual.
"First aid was given by the crew prior to handing over to the ambulance service.
"We believe the individual jumped from the car deck and that he was travelling with one or more carers.
"As is normal in these types of situation we will be conducting a full investigation to see what we can learn, but at this stage it appears the individual's life was saved by swift actions, demonsatrating the highest levels of skill and training of Captain Chris Barron and his crew."
*A Red Funnel spokesman said: "At approximately 11:45am, whilst the Red Falcon was making her approach into Cowes, an individual jumped from the main guest outdoor seated area (A Deck) where he was seated with his 3 carers.
"Unfortunately he threw a cigarette butt over the side and then chose to jump in, without warning to his carers.
"The Ship’s rescue boat and crew were mobilised immediately and successfully rescued the individual.
"We can also confirm that on recovery, the crew members of the Red Falcon’s FRC (Fast Rescue Craft) had to perform life-saving first aid to clear significant water ingested by the casualty who was breathing with difficulty.
"On handing over to the Isle of Wight ambulance service the casualty was breathing unassisted and on his feet.
"Red Funnel would like to thank the Isle of Wight emergency services for their support in what was a life-threatening situation."