Navigation company LNM faces shareholder anger over schedule cuts and deficit

Shareholders of the navigation company LNM voiced frustration over schedule disruptions and a reported 470,000 franc deficit for 2025 during the company's general meeting. The company's governance crisis is reportedly causing significant operational issues, leading to reduced services that displease local municipalities.

Alain Ribaux, LNM's president, acknowledged the financial shortfall and the public's awareness of the company's difficulties. He confirmed that the 2027 schedule would likely maintain reduced services, admitting that offering only one daily crossing to Estavayer was a poor decision.

The meeting, held on a boat in Neuchâtel harbor, saw about twenty shareholders gather. While the financial report itself generated few questions due to the widely known challenges, the upcoming schedule and its impact on local communities became a focal point of discontent.

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The 2027 schedule theme could be upsetting. We will probably have to maintain reduced services next year, but we have heard and understood the criticisms. Offering only one crossing per day to Estavayer was not the best idea we ever had.