Following a report on June 28 that alleged “Crystal Cruises seemingly has set its river fleet up for sale,” the river cruise line set out a assertion “emphatically” denying the statements.
The original report famous the data arrived from an email from a Florida ship broker that was despatched to other European river strains. It experienced claimed that the five river ships created by Crystal concerning 2016 and 2018 are presently “investing on the Rhine” and can “be designed for sale.” The electronic mail, in accordance to the report, also claimed that “the proprietors are extremely significant sellers.”
The ships reportedly for sale were Crystal Mozart, Crystal Debussy, Crystal Mahler, Crystal Ravel and Crystal Bach.
In a assertion on Thursday, Crystal River Cruises SVP and taking care of director Walter Littlejohn explained, “We emphatically deny the accuracy of an e mail despatched to our opponents by a Florida ship broker, with whom we have no contractual relationship and to whom our authorized group has issued an speedy cease and desist letter.”
In August 2020, Genting Hong Kong, the guardian enterprise of Crystal Cruises, submitted a economical doc with the Inventory Exchange of Hong Kong Constrained, describing that it’s briefly suspending all payments to the group’s fiscal creditors to preserve liquidity. The business at the time reported that it was reserving its remaining accessible dollars “to retain important expert services” for its functions. “The COVID-19 pandemic has experienced and will continue to have a materials influence on the money place and benefits of operation of the Team,” Genting’s filing reported.
In a statement offered to Travel Agent at the time, Crystal mentioned, “It is critical to comprehend that the corporation is not going out of small business. No matter what solution our guardian enterprise pursues, it will allow for Crystal to function its company.”
This 7 days, nonetheless, GGR Asia reported (the day next the first declare about the possible sale of Crystal’s river fleet) that Genting Hong Kong experienced concluded a collection of offers with its world lenders aiming “to present further money and steadiness to the group.” The organization mentioned the bargains included accessibility to new mortgage services amounting to about $700 million, an modification and extension of its current money indebtedness, and provision of “backstop funding” arrangements to deal with long run liquidity wants.
In his assertion, Littlejohn famous that the five-ship fleet sailed at more than 97 per cent occupancy in 2019 and, hunting forward, “bookings are up well in extra of 50 %, providing at our absolute highest pricing ever, with a 28 per cent potential enhance.”
“We would like to guarantee our valued attendees, journey advisors and crew members that Crystal is steadfastly concentrated on pivoting absent from the travails of the pandemic as we prepare to gradually resume assistance this calendar year on August 29 with Crystal Ravel on the Danube and August 30 with Crystal Debussy on the Rhine, the two of which are quite closely booked,” Littlejohn stated. “This resumption follows the restart of our ocean business with the forthcoming July 3 sailing of Crystal Serenity from Nassau, Bahamas and the July 17 maiden voyage of the brand name-new expedition ship Crystal Endeavor, just christened in Germany final weekend, from Reykjavik, Iceland. Soon the business will announce a revised restart of the Crystal Symphony with voyages starting late summer season.”
This tale initially appeared on www.luxurytraveladvisor.com.
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