Spirit ferries, terminals have millions wiped in major asset write-down

Spirit of Tasmania ferries, terminals included in $723 million accounting loss in asset write-downs

In short:

TT-Line has announced a $723 million accounting loss after major write-downs of its Spirit of Tasmania ferries and terminals.

The state-owned company says it delivered a $1.5 million operating profit, and insists its long-term future is in good shape.

What's next?

Two new Spirit of Tasmania ferries will begin servicing Bass Strait from the end of the month as TT-Line tries to sell its two older vessels.