Crystal Cruises clarifies situation over parent company finances

Crystal Cruises clarifies situation over parent company finances

Crystal Cruises has issued a clarification statement after its Asian-based owner revealed doubts over financial restructuring plans.

Covid-19-hit Genting Hong Kong, which also runs Dream Cruises and Star Cruises, disclosed debts of $3.37 billion as it admitted that a fundraising exercise “may or may not be consummated”.

The luxury line, which has paused sailings for the rest of the year due to the pandemic, said in response: “Crystal’s parent company, Genting Hong Kong, is engaged in a financial restructuring and fundraising exercise to address liquidity issues that resulted from its global fleet not operating because of Covid-19.

“It is important to understand that the company is not going out of business.

“Whatever option our parent company pursues, it will allow Crystal to operate its business.”

The cruise line continued: “Additionally, we have always been committed to honouring our contractual obligations with guests and travel partners, including the processing of refunds.

“While we have extended our suspension of global voyages until the end of the year, we are working with government and health authorities in our key markets to resume sailing when it is safe to do so and we look forward to welcoming our guests back on board at that time.”