The Island's Treasury Minister says the Ben my Chree may be hired out to other companies by the Steam Packet in future.
In the House of Keys, Dr Alex Allinson faced questions about the vessel's future from Central Douglas MHK Chris Thomas.
Dr Allinson said the company would refit the ferry so that crew could live aboard her, and she'd be used as a backup.
But he added she wouldn't be able to run other scheduled crossings:
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