Following a report on June 28 that alleged “Crystal Cruises apparently has put its river fleet up on the market,” the river cruise line put out a press release “emphatically” denying the claims.
The unique report famous the data got here from an e-mail from a Florida ship dealer that was despatched to different European river traces. It had stated that the 5 river ships constructed by Crystal between 2016 and 2018 are presently “buying and selling on the Rhine” and may “be developed on the market.” The e-mail, in accordance with the report, additionally stated that “the homeowners are very critical sellers.”
The ships reportedly on the market have been Crystal Mozart, Crystal Debussy, Crystal Mahler, Crystal Ravel and Crystal Bach.
In a press release on Thursday, Crystal River Cruises SVP and managing director Walter Littlejohn stated, “We emphatically deny the accuracy of an e-mail despatched to our opponents by a Florida ship dealer, with whom we now have no contractual relationship and to whom our authorized workforce has issued a right away stop and desist letter.”
In August 2020, in accordance with our sister publication Journey Agent, Genting Hong Kong, the mum or dad firm of Crystal Cruises, filed a monetary doc with the Inventory Trade of Hong Kong Restricted, explaining that it’s quickly suspending all funds to the group’s monetary collectors to protect liquidity. The corporate on the time stated that it was reserving its remaining obtainable money “to keep up crucial providers” for its operations. “The COVID-19 pandemic has had and can proceed to have a cloth influence on the monetary place and outcomes of operation of the Group,” Genting’s submitting stated.
In a press release supplied to us on the time, Crystal stated, “It is very important perceive that the corporate isn’t going out of enterprise. No matter choice our mum or dad firm pursues, it’s going to enable Crystal to function its enterprise.”
This week, nevertheless, GGR Asia reported (the day following the preliminary declare concerning the potential sale of Crystal’s river fleet) that Genting Hong Kong had concluded a sequence of offers with its international collectors aiming “to supply additional capital and stability to the group.” The corporate stated the offers included entry to new mortgage amenities amounting to about $700 million, an modification and extension of its present monetary indebtedness, and provision of “backstop funding” preparations to handle future liquidity wants.
In his assertion, Littlejohn famous that the five-ship fleet sailed at over 97 p.c occupancy in 2019 and, trying ahead, “bookings are up effectively in extra of fifty p.c, promoting at our absolute highest pricing ever, with a 28 p.c capability improve.”
“We want to guarantee our valued company, journey advisors and workforce members that Crystal is steadfastly targeted on pivoting away from the travails of the pandemic as we put together to steadily resume service this yr on August 29 with Crystal Ravel on the Danube and August 30 with Crystal Debussy on the Rhine, each of that are very closely booked,” Littlejohn stated. “This resumption follows the restart of our ocean enterprise with the upcoming July 3 crusing of Crystal Serenity from Nassau, Bahamas and the July 17 maiden voyage of the brand-new expedition ship Crystal Endeavor, simply christened in Germany final weekend, from Reykjavik, Iceland. Quickly the corporate will announce a revised restart of the Crystal Symphony with voyages starting late summer season.”
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