Cruise Investment Holding and Royal Caribbean Cruise Lines have announced they have filed for reorganisation of their cruise brand Pullmantur.
In a statement made on Royal Caribbean’s corporate website, the company explained they have filed for the reorganisation of their Pullmantur Cruceros joint venture under the terms of Spanish insolvency laws.
Cruise Investment Holding owns 51 percent of the Spanish cruise line, while RCCL owns the remaining 49 percent.
Pullmantur’s board of directors determined that the unprecedented impact of the COVID-19 pandemic made the action necessary. Pullmantur management notified employees of the decision after filings were made with Spanish authorities.
Despite the great progress the Company made to achieve a turnaround in 2019 and its huge engagement and best efforts of its dedicated employees, the headwinds caused by the pandemic are too strong for Pullmantur to overcome without a reorganisation,” the board stated.
Royal Caribbean Cruises Limited
Pullmantur had already canceled sailings through to November 15, 2020 due to the Coronavirus pandemic. Guests booked to sail on Pullmantur will be offered the option to sail on other RCCL brands including Royal Caribbean International and Celebrity Cruises. Pullmantur noted that details of the exact offerings available will be shared with guests soon.
Pullmantur have a fleet of three ships, with another vessel – Royal Caribbean’s Grandeur of the Seas – planned to join in early 2021. Horizon is a former Celebrity Cruises ship, while Monarch and Sovereign were both former Sovereign-class ships which sailed for Royal Caribbean International.