Cruise owner Genting Hong Kong files to wind up business

Wednesday, Jan 19, 2022 0

Genting Hong Kong has filed to wind up the business, putting the future of its three cruise brands in doubt.

Genting HK was unable to secure funding to pay debts and its German shipbuilding subsidiary MV Werften was became insolvent last week.

The company could default on US$2.78 billion.

Genting said it had ‘exhausted all reasonable efforts’ to keep the business afloat in its present form.

It owns luxury line Crystal Cruises as well as Asia-based Dream Cruises and Star Cruises.

It posted a loss of US$1.7 billion in 2020.

The company said Dream Cruises and other subsidiaries will continue operating ‘in order to preserve and protect the core assets.’

"However it is anticipated that majority of the Group’s existing operations will cease to operate," it said in a statement.

Related News Stories :   Amadeus launches five-day taster cruise     Explora Journeys rolls out new group booking programmes     HAL Volendam extends charter housing Ukrainian families     Margaritaville at Sea sets off on maiden voyage     Star Clippers recognized for sustainability in Costa Rica     Windstar cancels Asia cruises  


TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

Most Read

Thailand is now fully opened: Learn all about it from Markland Blaiklock, head of Centara Hotels

Crypto Payments For Travel What You What To Know

Chris King of Lightning Recruitment speaks about the issues surrounding hiring talent

Qatar has so much more to offer - find out what as we chat with the Tourist Board

Visa and Mastercard have been accused of illegally setting fees on corporate cards

Amir Eylon talks about how likely are Americans to travel internationally during the Ukraine Crisis

Meet the founder of Vietnam’s largest and leading tourism group: TMGroup

Katie Coates of Visit Mississippi tells us what to expect on vacation in the Hospitality State

Simon Jackson MD of Idiliq Resorts explains what the product offering consists of

Guy Novik of USAirtours explains the last 2 years and their relationship with the trade

What to expect as Vietnam reopens its border to international arrivals

Wildlife and Safari in South Africa - here is what you can sell as we speak to Springbok Atlas

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari