Managing Director to Leave After 15 Years as Company Faces Financial Challenges

Neil Chapman, the long-standing managing director of Hovertravel, is set to depart his role, the company has announced.

His departure comes as part of a comprehensive commercial review, which has evaluated all roles within the business amid a series of cost-cutting measures.

Hovertravel, which operates the hovercraft service between the Isle of Wight and Portsmouth, has been facing financial pressures due to declining tourism figures and changes in commuting patterns following the Covid-19 pandemic.

Tourism and Commuter Numbers Drop

The decision follows a difficult period for the company, with a 10% drop in overnight visitors in the past year. Additionally, a growing number of commuters have opted to work remotely since the pandemic, reducing demand for cross-Solent travel.

In January, Hovertravel reduced the number of morning and evening flights, and the company has also made several redundancies as part of its financial restructuring.

Chapman to Stay On During Transition

Despite his upcoming departure, Chapman will continue in his role for up to six months as the company works to reallocate responsibilities and ensure a smooth transition.

In a statement, Hovertravel praised Chapman’s leadership and contributions over the past 15 years, saying:

“Hovertravel hugely appreciates Neil’s dedication and commitment to the company. We thank him for his continued efforts during this process and wish him all the best in the future.”

Future of Hovertravel

While Hovertravel remains a key transport link for the Isle of Wight, the service is having to adapt to changing demand. The company has not yet confirmed who will take over Chapman’s role, but further announcements are expected in the coming months.

His departure marks the end of an era of stability for Hovertravel, as it now looks to navigate the challenges of lower passenger numbers and evolving travel habits.