Pullmantur Cruceros, a joint venture between Royal Caribbean and Cruises Investment Holding, has filed for reorganization under Spanish insolvency laws. Cruises Investment Holding owns 51 percent of the three-ship Spanish cruise line, while Royal Caribbean owns the remaining 49 percent.
Pullmantur’s board of directors issued a statement that reads in part, “Despite the great progress the company made to achieve a turnaround in 2019, … the headwinds caused by the pandemic are too strong for Pullmantur to overcome without a reorganization.”
While the bankruptcy filing impacts only a small cruise operation, it does raise the question — what impact will the pandemic headwinds have on the cruise industry as a whole?
In mid-March, the Cruise Lines International Association (CLIA) announced that the major cruise lines were
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The Clearwater
On June 17, 1940, the HMT Lancastria was sunk by German bombers near the French port of Saint-Nazaire. An estimated 4,000 people died in the sinking. Fewer than 2,500 survived. It was the worst maritime disaster in British history, worse than the Titanic and the Lusitania combined. While often described as forgotten history, that is not accurate. Rather than being forgotten, the tragic sinking was largely covered up for almost 70 years.
The $13 billion dollar aircraft carrier
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