Subscribe today
Get Cruise Critic in your inbox
Cruise News
Home > Cruise News Archive > Is Festival Demise Imminent?
Date Published: March 11, 2004
First European Cruises Profile and Reviews
Latest Cruise News Headlines
Is Festival Demise Imminent?
A U.K.-based shipping trade publication is reporting that Festival Cruises has failed to successfully negotiate a re-financing solution with debt-holders and that the company's three most contemporary vessels -- Mistral, European Vision and European Stars -- will be sold at auction.

If true -- a spokeswoman from First European Cruises, Festival's U.S. marketing arm, "can neither confirm nor deny" -- the auctioning off of the three ships would mean the end of the Festival fleet.

Festival had, earlier this year, divested itself of older vessels such as Azur and Bolero; those two ships were sold this week at auction in Gibraltar. A buyer and price was not revealed.

Last week, we reported that Festival/First European, whose cruises on European Vision, European Stars and Mistral had been halted in February due to court-related orders, had waffled on a new date for resumption of sailings. Last month, the company had actually announced a starting date for those ships, saying that "favorable legal rulings ... have cleared the way for the company to continue moving forward." Alas, the dates came and went.

The U.S.-based spokeswoman said, at the time, that "We are still waiting for confirmed dates for the resumption of service and expect to get that information shortly."
Cruise News Headlines
More First European Cruises News
Reviews

About UsAdvertisingEditorial DisclaimerPress
PrivacySite MapStoreSubscribe
X

Thank You For Signing Up!

Please Note: To ensure delivery of your free e-letters, please add news@cruisecritic.com to your address book.

We're committed to protecting your privacy and will not rent or sell your e-mail address. By proceeding, you agree to our Privacy Policy and Terms of Use.