The Madrid-based Pullmantur Cruises has filed for bankruptcy. Fifty-one per cent owned by Cruise Investment Holding and 49% by the Royal Caribbean Group, the hope is that there will be a restructuring, but the immediate impact will be felt by employees and an estimated 150,000 passengers, according to Spain's Organisation for Consumers and Users.
The two parent companies say that despite the progress made by Pullmantur Cruises in achieving change in 2019, "the headwinds caused by the pandemic were too strong for Pullmantur to overcome without a reorganisation".
The customers, it is understood, will be offered Royal Caribbean bonds, i.e. vouchers for other cruises. Pullmantur operated three ships - Horizon, Monarch, and Sovereign. The latter two both have capacity of 2,852. Horizon is smaller; a 1,875 capacity. Last year, the cruise line carried just over 400,000 passengers, 40% of whom were Spanish.
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