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April 24 2009
The volte-face ensures that contractors will receive a £3.2m cheque in compensation for the late ditching.
Transport Initiatives Edinburgh had negotiated a fixed price contract for the work at £87m but this cash is needed to plug a hole in the finances of the Airport-Newhaven route.
It means that any future administration wishing to proceed with the route will be burdened by a bill at least twice as big as that which is currently on offer.
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