Pullmantur Cruzeiros—a joint venture between Spain’s Cruises Investment Holding and Royal Caribbean Cruises Ltd. has become the first cruise line to fall victim to the worldwide cruise lockdown. The three-ship fleet which included the former RCL ships Sovereign and Monarch of the Seas declared insolvency in filings to Spanish authorities.
Cruises Investment Holding owns 51 per cent of the line, and RCL owns the remaining 49 per cent of the company that had been struggling even before the pandemic shut down cruising in March.
“’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 reorganization,” the line’s board stated.
The company, which was not marketed in North America, has cancelled all sailing of its ships Monarch, Sovereign and Horizon. Royal Caribbean said passengers booked to sail will be offered the option to cruise with Royal Caribbean International or Celebrity Cruises. It added that it will take care of the safe return home of crews.
