Sunday, May 17, 2009

Windstar Situation May Be Improving, But Caution Is Warranted

Windstar's owner, Ambassador's International, has been selling off some of its assets in order to stay afloat (pun intended). It is exiting its Majestic America cruise operations and has recently sold its marine group after selling its travel and events a month ago. But there are other assets which it needs to sell that it is apparently having trouble finding buyers for.

On Friday it stated that unless it can renegotiate with its lenders/debtors, sell other assets and find some financing it may find itself curtailing certain operations and still speaks of the bankruptcy option, according to Seatrade.

With occupancy at around 85% on significantly discounted fares, if you are interested in experiencing Windstar sooner may be an option, while later may not be.