(Updated 12:34 p.m. EST) -- Five months after Royal Caribbean Group's low-cost Spanish subsidiary Pullmantur filed for creditor protection, there are signs the low-cost cruise line could be on the verge of restart -- using up to two Millennium Class ships procured from sister-brand Celebrity Cruises.
The Insolvency Administration of Pullmantur Cruises, headed by bankruptcy administrator Francisco Vera, notes that Royal Caribbean Group and Pullmantur have come to a financing agreement for the continued operation of the brand. Royal Caribbean Group owns 49 percent of the company.
Vera notes that Pullmantur has been working on a revised business plan, including provisions for a Future Cruise Credit program for affected Pullmantur passengers that would see 125 percent Future Cruise Credits issued for use on either Royal Caribbean Group's Royal Caribbean or Celebrity Cruises brands.
Vera also revealed that Pullmantur is in discussions to acquire two of Celebrity Cruises' Millennium Class cruise ships -- a move that could affect North American and European cruisers currently booked aboard the as-yet-unidentified ships.
"In this way, it will continue in line with the commitment acquired to obtain two Millennium class vessels at Pullmantur’s disposal under the terms derived from the business plan," stated Vera. "And, with the idea of improving the offer, staking on a more modern design with a greater number of cabins with balcony."
On November 28, a spokesperson for Celebrity Cruises' refuted Vera's claim.
"While we fully support the reorganization efforts of Pullmantur and continue to work productively with Pullmantur as it develops its new business plan, it is important to clarify that we have not agreed to lease or sell any of our ships, including any Celebrity Millennium class ships, to Pullmantur," Celebrity Cruises noted in a statement emailed to Cruise Critic.
Pullmantur's previous fleet consisted of three ships: the ex-Royal Caribbean sisters Sovereign and Monarch, and the ex-Celebrity Cruises' Horizon. All three have been sold for scrapping at Turkey's Aliaga shipbreakers.
Celebrity Cruises' Millennium Class are currently the oldest vessels in the fleet. Dating back to 2000, they include Celebrity Infinity, Celebrity Summit, Celebrity Constellation and Celebrity Millennium.
Cruise Critic will update this article as more details become available.