Crystal Cruises has been suspended after the parent company went bankrupt, leaving passengers with no place to stay. The cruise line’s future is uncertain, but it seems that their legacy will be one of unforgettable experiences and incredible hospitality for travelers who have yet to visit them on board.
The “crystal cruises financial situation 2021” is a blog post that discusses the current financial state of Crystal Cruises. The company has announced it will suspend operations after its parent company, Genting Hong Kong, filed for bankruptcy.
Crystal Cruises, a premium cruise service, has stated that it would cease ocean and river cruise operations, with existing ship journeys permitted to finish their itineraries. It comes after parent firm Genting Hong Kone filed for bankruptcy, leaving its three cruise brands, including Crystal Cruises, with an uncertain future.
The operations of a luxury cruise line have been halted.
The filing for bankruptcy by Genting Hong Kong in the Bermuda Supreme Court on Tuesday has cast doubt on the future of its three cruise companies, including premium line Crystal Cruises. The cruise company announced on Wednesday evening that it will be stopping operations until April 29, 2022.
“Suspending operations will give Crystal’s management team with a chance to analyze the present condition of company and investigate potential options going ahead,” Crystal Cruises stated in a statement to travel brokers.
Photo credit: Shutterstock/Vytautas Kielaitis
As a result, after their current journeys, all three Crystal ships will not be running any planned itineraries. Crystal Symphony’s current trip will conclude on January 22, 2022, in Miami, Florida. Crystal Serenity’s current voyage will end on January 30, in Aruba, while Crystal Endeavor’s current voyage will end on February 4, 2022, in Ushuaia, Argentina.
“Given the present financial climate and recent changes with our parent company, Genting Hong Kong,” Crystal’s president, Jack Anderson, stated, “this was an extraordinarily tough choice but a wise one.” “For more than 30 years, Crystal has been associated with luxury cruising, and we look forward to welcome back our beloved customers when we restart operations.” We want to express our gratitude to our visitors and travel advisers for their unwavering support throughout these trying times.”
Guests who booked back-to-back cruises will get a refund for the days they did not utilize, as well as any port charges, taxes, and fees. If the visitor utilized a future cruise credit to book the sailing, the credit will be restored to their account and may be used again in the future.
What is causing this?
Due to problems with its MV Werften shipyard in Germany, Genting has just recently filed for bankruptcy. The Asian firm had been working on getting $88 million in backup finance when it was blocked by the German federal state of Mecklenburg-Vorpommern. Due to the effect of COVID-19, Genting has been having difficulty raising financing in recent months.
T. Schneider / Shutterstock / T. Schneider / Shutterstock / T. Schneider / Shutterstock
It’s still unknown what this implies for the company’s three cruise brands, Crystal Cruises, Star Cruises, and Dream Cruises, as well as the Global Dream cruise ship currently under construction at a German shipyard.
“The Company and the Group have no access to any additional liquidity under any of the Group’s loan arrangements,” Genting stated on Wednesday. “According to the Company’s cashflow predictions, the Company’s available cash balances are projected to run out on or around the end of January 2022.”
Also read: The Centers for Disease Control and Prevention (CDC) Updates Travel Warnings for Multiple Cruise Destinations
In the future, the brands may be split up or even bought. Crystal Cruises is a premium cruise line that was created in 1988 and launched its first ship, Crystal Harmony, in 1990. Genting Hong Kong bought the cruise line from Nippon Yusen Kabushiki Kaisha in early 2015, and in the years after has expanded into yacht and river trips.
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Crystal Cruises has suspended operations after the parent company, Royal Caribbean Cruise Lines, filed for bankruptcy. The cruise line was forced to cancel all voyages scheduled for 2019 and 2020. Reference: who owns crystal cruises.
Frequently Asked Questions
Are Crystal River cruises still operating?
A: Unfortunately, Crystal River Cruises ended service in 2018.
Is Crystal Cancelling Cruises?
A: Unfortunately, Crystal Cruises does not offer private island style escapes.
Who bought Crystal Cruises?
A: Um, I dont understand your question.
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