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 information got here from an e mail from a Florida ship dealer that was despatched to different European river traces. It had mentioned that the 5 river ships constructed by Crystal between 2016 and 2018 are presently “buying and selling on the Rhine” and might “be developed on the market.” The e-mail, in accordance with the report, additionally mentioned that “the homeowners are very severe 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 mentioned, “We emphatically deny the accuracy of an e mail despatched to our opponents by a Florida ship dealer, with whom we’ve got no contractual relationship and to whom our authorized crew has issued a right away stop and desist letter.”
In August 2020, in accordance with our sister publication Travel Agent, Genting Hong Kong, the mother or father firm of Crystal Cruises, filed a monetary doc with the Inventory Change of Hong Kong Restricted, explaining that it’s temporarily suspending all payments to the group’s financial creditors to preserve liquidity. The corporate on the time mentioned that it was reserving its remaining accessible money “to take care of important providers” for its operations. “The COVID-19 pandemic has had and can proceed to have a fabric affect on the monetary place and outcomes of operation of the Group,” Genting’s submitting mentioned.
In a press release supplied to us on the time, Crystal mentioned, “You will need to perceive that the corporate is just not going out of enterprise. No matter possibility our mother or father firm pursues, it would permit Crystal to function its enterprise.”
This week, nonetheless, 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 collection of offers with its international collectors aiming “to offer additional capital and stability to the group.” The corporate mentioned 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, wanting ahead, “bookings are up nicely in extra of fifty p.c, promoting at our absolute highest pricing ever, with a 28 p.c capability improve.”
“We wish to guarantee our valued company, journey advisors and crew members that Crystal is steadfastly targeted on pivoting away from the travails of the pandemic as we put together to regularly resume service this 12 months 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 mentioned. “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.”