Ferry firm Stena Line to furlough 600 employees in UK and Ireland

Swedish ferry firm Stena Line will furlough 600 employees and make 150 redundant across the United Kingdom and Ireland, it said on Monday, citing the impact of the new coronavirus.

"This urgent measure is an unavoidable response to the on-going global COVID-19 crisis, that has had a hugely damaging effect on travel and transport across Europe," the privately held company said in a statement.

The company said it was experiencing a huge decline in travel bookings and freight volumes and that passenger figures were not expected recover until well into 2021.