|
|
|
Back to Menu |
Cruise News for the
Corporate Travel Professional |
Friday, July 31, 2009 |
|
Despite Parent Company’s Woes,
Windstar Says it’s Going Strong |
|
Despite the financial challenges that face parent
company Ambassadors International, Windstar Cruises is “probably in
a better position right now than we’ve been in a year,” said
Windstar President Diane Moore.
The company had said it might be forced to extend vendor payment
terms, suspend or curtail planned operations or seek bankruptcy
protection “if we are not able to sell our remaining non-Windstar
Cruises assets, raise additional financing and/or renegotiate
existing debt obligations.”
Moore noted that reporting such risks is a formality required by the
Securities and Exchange Commission, adding that the statement did
not necessarily reflect the current reality at Windstar.
In February, Ambassadors announced plans to sell off all assets
except Windstar. Subsequently, the company sold off most of its
travel and events division in April. In May, Ambassadors sold its
marine group.
What’s left is the three Windstar yachts that are all in operation,
a portion of the events division and river cruise ships that until
last fall sailed as part of the now-defunct Majestic America Line.
The company handed over the Empress of the North and the American
Queen to the U.S. Department of Transportation’s Maritime Division
last year, four of the river ships are in drydock and the Delta
Queen has been leased out for use as a hotel.
A plan was laid out in February to unload all but Windstar and focus
efforts there. Windstar is now executing on that plan, Moore said.
Windstar reported an 87 percent increase in sales for the five weeks
leading up to April 27, compared with the same period in 2008,
resulting in the decision to open its call center on Sundays to
handle demand.
When the decision to wind down its other businesses was announced,
Ambassadors decided to reduce overhead by moving its corporate
headquarters from Newport Beach, Calif., to Seattle, where Windstar
is based. |
|
 |
|
|
 |
|
|
 |
|
|
|
 |
|
|
 |
|
|
UP |
|
|
Worldwide Travel & Cruise Assoc., Inc.
150 S. University Dr. Ste E,
Plantation, FL 33324 - USA
Tel: +1 954 452 8800 Fax: +1 954
252 3945
EMail:
sales@cruiseco.com
www.cruiseco.com |
|
