An economic and financial study into a regular maritime connection between Madeira and mainland Portugal has concluded that none of the six scenarios examined would be financially or economically viable without public funding. The document, released by the JPP, indicates that projected revenues would be insufficient to cover investment and operating costs in all scenarios.
Fares considered acceptable by passengers would also not cover the cost of providing the service, resulting in a significant deficit. Scenario 5, proposing a fortnightly service during high season between Madeira and Portimão (transferring to Setúbal in 2031), showed the least negative financial and economic results, with a negative net present value of approximately €18.59 million.
Scenario 6, a weekly year-round service, offers the best results in terms of continuity and demand, but would involve substantially higher operating costs and a negative net present value of around €144.21 million. The study concludes that, if the maritime link is implemented, it would require a clear model with public service obligations, risk allocation, and a compensation mechanism.
