Which cruise lines are going out of business?

Other cruise brands that have shut down over the past four years, almost all citing the financial effects of the pandemic, include luxury line Crystal Cruises and its two Asia-based sister brands, Dream Cruises and Star Cruises; Japan-based Venus Cruises; India-based Jalesh Cruises; Swedish-based Birka Cruises; U.S.- ...



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Island Escape Cruises (NZ) Limited traded for less than a year before falling into financial difficulty. The company, and its Australian-based subsidiary, are owned by Norway-based Pacific Exploring Limited (PEL). The Australian branch of Island Escape Cruises went into liquidation in October 2022.

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Royal Caribbean has a massive amount of debt on its balance sheet that it accumulated during the pandemic to stave off bankruptcy. At the end of Q2, the company had $18.7 billion in long-term debt and $1.7 billion in current debt (meaning debt due within 1 year).

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Most cruise lines are now operating at full capacity, with the age of Covid restrictions in the rear view mirror. But questions remain.

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Crystal Cruises Owed Over $100 Million, Said CEO in 2022 Genting had abandoned Crystal Cruises, leaving it to deal with the fallout of unpaid deposits, outstanding fuel bills, and crew members awaiting repatriation.

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There are several affordable cruise options available, such as MSC, Carnival, Royal Caribbean, Norwegian Cruise Line, and Holland America Line, offering various itineraries and destinations for travelers on a budget.

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Go online and create a mock booking Before your cruise departs, you can head online and recreate your booking. This will tell you whether certain cabin categories are sold out, as well as a rough estimate of how many rooms are available within each.

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Corrections & Clarifications: In a previous version of this article, the name of the Swedish city of Gothenburg? was misspelled. The MV Astoria is the oldest cruise ship currently sailing, and Cruise and Maritime Voyages embraces the story of its vintage vessel.

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Throughout my childhood and adult life, I have essentially experienced the luxury line as Crystal 1.0, during its pre-all-inclusive days; Crystal 2.0, once it became all-inclusive; and Crystal 3.0, post-pandemic as acquired by A&K Travel Group, which resurrected the beloved line after its bankruptcy at the hands of ...

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The 2023 cruise industry is booming. It has far surpassed 2019 levels, breaking sales records in a furious, post-pandemic comeback. Like most tourism sectors, cruising is reaping the benefits of “revenge travel”— vacationers making up for the time that was lost during the pandemic.

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Royal Caribbean has cancelled a second Radiance of the Seas cruise due to continued propulsion issues and needed repairs. Royal Caribbean International has begun reaching out to guests booked on the September 8, 2023 departure of Radiance of the Seas with the news that the sailing has to be cancelled.

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Generated total revenue of $2.5 billion, a record for the Company and up 33% compared to the same period in 2019, and GAAP net income of $345.9 million, or EPS of $0.71. Achieved Adjusted EBITDA of $752 million and Adjusted EPS of $0.76, exceeding guidance of $730 million and $0.70 respectively.

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In the case of Norwegian Cruise Line Holdings, both the revenue per share (evident from the last five years' TTM data: 2019: 28.67; 2020: 21.68; 2021: 0.08; 2022: 5.74; 2023: 16.54; ) and the 5-year revenue growth rate (-32%) have been on a consistent downward trajectory.

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Best Luxury Cruise Lines
  • #1. Viking Ocean Cruises.
  • #2. Seabourn Cruise Line.
  • #3. Regent Seven Seas Cruises.


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Carnival Corporation & plc is the largest parent company, helping 283,633 cruise passengers to sail around the world. Royal Caribbean International is the largest cruise line in the world, welcoming 129,188 passengers onboard. Carnival Cruise Line and Royal Caribbean International boast fleets of 27 ships.

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