did crystal cruise line go out of business

18 Months After Bankruptcy, This Luxury Cruise Line Is Sailing Again

In 2022, crystal cruises went belly up. now, two of the original ocean ships are back on the high seas—with some enticing upgrades..

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Travelers can relax at sea in the new Aurora spa onboard the reborn Crystal ships.

Courtesy of Crystal

After declaring bankruptcy in 2022 , what was once Crystal Cruises is back on the high seas with a new look, an abbreviated name, and plans for rapid growth. The cruise line was acquired by the luxury, small-group tour operator Abercrombie & Kent (A&K), which rechristened the brand as simply “ Crystal .”

During the restructuring, Crystal sold off five river ships—which have been resurrected by the new river cruise line Riverside Luxury Cruises —and an expedition vessel, and it currently operates two of its original ships, the 740-passenger Crystal Serenity and the 606-passenger Crystal Symphony . However, Cristina Levis, CEO of A&K Travel Group, said Crystal plans to order two new classic ships and two expedition vessels over the next six years.

“We have ambitious growth plans for Crystal and are proud of what we have accomplished with the relaunch of Crystal Serenity and Crystal Symphony in just under a year following the purchase of the brand,” Levis said. “We are now thrilled to formally announce that we will grow our fleet and continue to offer the most exceptional cruising experiences in the industry.”

The two vessels, Crystal Symphony and Crystal Serenity , are just the beginning for the reincarnated Crystal brand.

Crystal Serenity is currently on its maiden voyage under the new ownership: a 12-night Mediterranean sailing that started in Marseille, France, and will end in Lisbon, Portugal. The ship will operate mainly in the United Kingdom and Iceland in August before heading to Canada and New England for September and then onward to the Caribbean for winter. In the spring, the ship will embark on a 141-day around-the-world cruise, starting and ending in Miami and visiting 69 ports across 29 countries, including Colombia, New Zealand, Egypt, and Italy.

Crystal Symphony , meanwhile, will restart operations on September 1, with a sailing from Athens to Istanbul. Afterward, it’s off to Asia, Australia, and New Zealand for the rest of 2023 and into early 2024.

Both ships have undergone a series of upgrades since the previous line went under; the main one is the expansion of the size of staterooms and suites. By merging smaller guest rooms into larger suites with living room and bedroom areas, Crystal has decreased the capacity of Serenity from 1,080 guests to 740. The renovations resulted in two new room categories: Junior Crystal Penthouse Suites measure 806 square feet and include separate bedroom, living, and dining areas, 1.5 baths, a walk-in closet, and a balcony, while the Single Guest Room with Ocean View category includes a single bed and a small living area within its 215 square feet. Best of all, it serves as a great option for solo travelers, who no longer need to pay a single supplement for a double room.

A new veranda suite on the updated Crystal ocean ships.

Photo by Amanda Julca/Crystal

Levis said these new categories helped increase the availability of the popular Sapphire Suite category, which measures 537 square feet and has separate sitting and sleeping areas, a walk-in closet, a balcony, and a bathroom with a rainfall shower and dual marble vanities.

In addition to room refreshes, Crystal has revamped some public spaces, the spa, and the fitness area, which now includes in-demand pickleball courts, and passengers will find a new look in the onboard restaurants, including northern Italian fine-dining spot Osteria D’Ovidio and Umi Uma, the only concept at sea for Nobu chef Nobuyuki Matsuhisa.

The Umi Uma restaurant on the Crystal Symphony is overseen by Nobu chef Nobuyuki Matsuhisa.

It’s worth noting that A&K also contracts ships from Ponant, a luxury French cruise company, for sailings to the Arctic and Antarctic regions. According to Levis, “When it comes to cruising, the companies will continue to operate as separate entities, with Crystal being a part of the A&K Travel Group family. Abercrombie & Kent will continue to charter Ponant ships for their expedition sailings.”

Crystal will announce itineraries for 2025 in the coming months (which, according to a Crystal spokesperson, will incorporate more A&K land expeditions), but there are still sailings available for booking in 2023 and 2024 on crystalcruises.com . Fares start at $3,800 per person, based on double occupancy.

After takeover, Crystal is back in Florida with a revamped cruise ship

• Richard Tribou Orlando Sentinel (TNS)

Crystal Cruises’ future was up in the air when its ships were seized and it declared bankruptcy in 2022. But a new owner bought its two ocean-going vessels, which combined went under $170 million makeovers, and they are sailing again trying to win back its luxury sailing clientele.

New owners Abercrombie & Kent Travel Group renamed the line simply Crystal, and one of its ships, Crystal Serenity, made its way to PortMiami this month to begin a winter sailing season of the Caribbean.

“It’s great to be back in Miami. It’s been a while,” said Capt. Birger Vorland at an event on Nov. 2 at the port. “We had faith. We knew we were going to be back. … We have a fairly drastically redesigned ship here in many areas. Still same old captain though.”

He said he is among 80% of former crew that returned to sailing when the ships came back into service over the summer.

“In the time that we have been out of service, it was a little stressful for everybody,” he said. “We had faithful guests who saw their home away from home suddenly disappearing and maybe it wouldn’t come back, but for us that work there, we were kind of unsure too.”

He said people would ask him if the makeover meant the signature service and feel for the ship were changing.

“It totally blew me away, so I said, ‘Listen, it’s the same, just better,’” he said.

That includes several of the suites and cabins getting complete renovations with more contemporary designs and two new categories catering to solo travelers.

Part of the line’s allure is its dining selection, including the partnership with Chef Nobuyuki “Nobu” Matsuhisa and his venue Umi Uma, a mix of Japanese and Peruvian cuisine. It’s among 11 options along with fine Italian venue Osteria D’Ovidio, The Vintage Room that features wine pairings from a large onboard cellar and family-style dining with tapas-style offerings at Tastes Kitchen & Bar.

The new spa on board is called Aurōra, with an illuminated fiber-optic starlight ceiling adding to the ambience.

“Rebuilding Crystal has been a challenging but rewarding endeavor,” said CEO Cristina Levis. “We’ve invested in revitalizing our ships and are committed to keeping our loyal guests as excited about the brand as ever.”

Serenity, which was built in 2003, and 1995′s Crystal Symphony, pave the way for Crystal’s plans to build new two new ocean cruise ships and two new expedition vessels.

“The effort to rebuild a brand always comes with challenges,” Levis said. “One of the most significant aspects is continuing to build our guest confidence and loyalty. We’ve invested a considerable amount of money, time and effort in communicating our commitment to excellence and exceptional experiences while demonstrating tangible improvements.”

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For now, the older ships look to bring back what had been a loyal customer base while having to compete with new cruise lines in the luxury market like Explora Journeys, Ritz-Carlton and Four Seasons, along with new ships from existing brands like Regent Seven Seas, Silversea Cruises and Seabourn.

“The company has to navigate the competitive, industry landscape with new ships joining each year, ensuring that our offerings continue to attract discerning travelers looking for the most exceptional experience while exploring all corners of the globe,” Levis said.

Part of that is sailing out of Miami this year, but shifting to Port Everglades in 2024. And also pulling on the expertise of Abercrombie & Kent with its land-based tours to enhance its destination offerings.

“Crystal has exciting plans for Florida in the future. Our 2025 itineraries were recently announced, with our ‘World Cruise’ leaving from Port Everglades in Fort Lauderdale along with many other voyages with South Florida turnaround days,” she said noting more than 17 voyages departing from the port stating in November 2024.

“We see Florida as a strategic hub that allows us to offer a wide range of itineraries and cater to the diverse preferences of our guests,” she said. “Crystal is committed to expanding presences in Florida as the state continues to be a top destination for cruise departures.”

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Crystal Cruises Is Going Out of Business, How to Get a Refund

Crystal Cruises is winding up operations and going out of business. What happens to customer deposits and how can people get a refund?

Feb. 17 2022, Published 11:18 a.m. ET

The COVID-19 pandemic was a near-death experience for the global travel and leisure sector. As countries across the world imposed lockdown measures, including shutting down their borders, the tourism sector took a massive hit. Is Crystal Cruises going out of business?

While the hospitality sector has been recovering and air traffic has been gradually increasing, the cruise sector has been a weak link. Luxury cruise line Crystal Cruises is winding up operations and going out of business. Customers who had paid in advance for a cruise want to know what happens to their deposits.

The cruise industry struggled during the COVID-19 pandemic.

The cruise industry went through a lot of pain during the COVID-19 pandemic. While lockdowns meant that companies' revenues dried up, they still needed to meet fixed costs like interest payments and employee salaries. Cruise companies reported negligible revenues in the last three quarters of 2020.

In the third quarter of 2020, Royal Caribbean posted revenues of -$33.7 million. It's unusual for a company to post negative revenues but the anomaly was due to consumer cancelations and penalties.

The industry still isn't out of the woods and Norwegian Cruise Line Holding expects that it lost between $4.4 billion and $4.6 billion in 2021, which is even higher than its 2020 loss of $4 billion.

Crystal Cruises was one of the top luxury cruise companies.

Crystal Cruises was a top awarded luxury cruise company that was in business for over three decades. The company is owned by Genting Hong Kong, which talked about liquidation in its regulatory filings in January.

While Crystal Cruises has been facing challenges for quite some time now, it reached a tipping point this month. Earlier in February, U.S. authorities seized two of the company’s ships over unpaid fuel bills of $4.6 billion. Crystal Cruises also shut its U.S. office and laid off the remaining employees in the country.

Former Crystal Cruises president Jack Anderson rues the fact that the parent company didn't come forward to help them amid its own financial troubles. Speaking with Bloomberg, he said, “Ultimately, we ended up with a bank account of zero.”

Crystal Cruises’ website is still active.

Crystal Cruises’ website doesn't mention that it's going out of business but says that it has closed the customer contact center. According to the website, people who want to contact the company should send an e-mail.

What happens to your deposits?

Many customers paid advance money to Crystal Cruises for their travel. Michael Moecker & Associates was appointed by a Florida court to collect creditors' claims. Among the claimants are the employees, customers, vendors, and travel advisors.

Anderson estimates that 75 percent–80 percent of the customers paid by credit card and card companies hold an estimated $100 million of money due to Crystal Cruises. The U.S. Maritime Commission has advised customers with claims on Crystal Cruises to contact their respective credit card companies , which would be an easier way to get the refunds.

If you paid for your travel in cash, it would be difficult to get the money. Even if you get the money back, it might not be the full amount. If you have a credit voucher that was issued against previous cancelations, you wouldn't be eligible for any refunds.

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The MS Crystal Symphony pictured in Waterford Harbor, Ireland, in July 2016. Photo credit: Yuriy Chertok / Shutterstock.com

Demise of Crystal Cruises Leaves Customers Out $100 Million—or More

Related news, crystal turns to fincantieri for two luxury cruise ships, crystal cruises left passengers out $100 million. can that same debt win them back, giant cruise ship’s maiden voyage may be to a scrapyard, bankrupt cruise ship departs on last ‘cruise to nowhere’, buyer needed asap for world’s biggest cruise ship.

By Fran Golden (Bloomberg) —

Last week, the most-awarded luxury cruise line in the industry, Crystal Cruises, unceremoniously  shuttered its doors , with not a word to consumers nor travel agents. Abandoned by its parent company Genting Hong Kong Ltd., it leaves a trail of debt—to travelers, who’d put down payments and deposits for sailings into 2024; to agents owed commissions; to employees in offices; to crew still on ships; and to unpaid vendors.

Although $4.6 million in outstanding fuel bills were central to Crystal’s demise, the signs of trouble appeared  weeks earlier  in a string of dominoes triggered by the  insolvency of a German shipyard . Through it all— a petition to wind up the company , layoffs, a halt to future sailings—Hong Kong was still assuring Crystal employees that the brand was not in jeopardy. In fact, passengers were still on ships.

By early February, when the line’s new 200-passenger expedition ship, the  Crystal Endeavor , disembarked its final passengers in Ushuaia, Argentina, the cash had run dry.

“Genting HK effectively washed their hands of Crystal when they filed liquidation in Bermuda,” says  Jack Anderson , who served as president of Crystal Cruises until the company dissolved its operations on Feb. 11. “At that point our relationship with Genting was effectively severed, and we were cut loose to fend for ourselves,” he tells Bloomberg.

Read Also: Bankrupt Cruise Line’s Unfinished Ship Attracts Investor Interest

Industry consultant David Giersdorf, whose Global Voyages Group is based in Seattle, says the demise of Crystal comes at a time when most cruise companies seem to be turning the corner from the Covid-19 pandemic. “This is—wow—very strange timing,” he says. “It’s weird that a shipyard issue in Germany triggered the demise of a multibillion-dollar entity.”

A Titanic Collapse

Crystal Cruises was a product of the highfaluting late 1980s, a prestige line started by a former Princess Cruises executive with financial support from Japan’s NYK. The line launched its first new ship,  Crystal Symphony , in 1995, and followed up with  Crystal Serenity  in 2003. Both were over-the-top floating palaces, with no expense spared.

Guests drank copious amounts of complimentary Champagne and feasted on sushi and miso-marinated black cod in Master Chef Nobu Matsuhisa’s onboard restaurants. Butlers brandishing silver trays serviced penthouses and suites. For those luxuries, Crystal’s fares could easily exceed $1,200 per person, per day.

While there were rumors the line had not registered a positive Ebitda since 2017, the cruise line was a crown jewel for Genting Hong Kong and its billionaire casino magnate owner,  Lim Kok Thay . It came with a loyal following of big-spending travelers, the majority from the U.S., and Crystal Cruises was forecasting a profit for 2020—before Covid hit.

On its website, Crystal Cruises still boasts of its many  Conde Nast Traveler ’s Readers’ Choice Awards and No. 1 spots on  Travel + Leisure ’s World’s Best Awards—recognition it earned annually for nearly 30 years.

After Genting Hong Kong purchased the line in 2015 for $550 million, it launched an ambitious expansion plan that added two planes, a Boeing 787-8 and Boeing 777-200, for private air flights; a yacht for exploring the Seychelles; five luxury river ships (of which four were newly built); and an expedition ship capable of reaching such remote and impenetrable places as Antarctica. 

Along the way, potential buyers courted the brand, making offers as recently as fourth quarter 2021. One of the bidders was Italian billionaire Manfredi Lefebvre d’Ovidio, flush with the proceeds from the sale of his ultraluxury Silversea Cruises Ltd. to Royal Caribbean Group. 

“Crystal could have been a subsidiary or shopped by privately held companies,” Giersdorf says. “You have to ask why the larger Genting Group let this occur—maybe to reorganize assets? It’s just odd the way it happened and how quickly it happened.”

A Bank Account of Zero

Consumers and travel agents are caught in the crosshairs. 

Crystal is currently responsible for more than $100 million in customer deposits and payments, all held in reserve accounts under the control of various credit card companies.

Most future itineraries were paid by credit card, which will make for easier refunds, says Anderson. Customers who paid in cash may not be as lucky, and those who had paid fully for sailings that were cancelled in 2020 or 2021 but rolled those funds into new bookings are completely out of luck; any credits are now worthless.

Beyond that, travel agents are owed 10% to 16% commissions on each itinerary they sold. The time spent untangling the logistical messes on behalf of their clients constitutes an additional cost they can never recoup.

For now, at least, the cruise line’s website is still up and will be used to post information from a court-appointed assignee on how consumers can start that refund process.

It’s unclear, however, what assets Crystal has left, beyond computers and office furniture, some bonds, those reserve accounts, and whatever marketing value lies in its customer, travel agent, employee, and crew databases. The company’s fleet, as it turns out, was not owned by the cruise line but amounts to secured assets of preferred creditors.

On Feb. 11, the last day the office was operational, Anderson says, none of it was in liquid cash that Crystal could use to keep operating. “Ultimately, we ended up with a bank account of zero.”

Sales and Scrapyards

So far Lim,  who stepped down  as chairman and chief executive officer of Genting Hong Kong in January, seems to have walked away unscathed, though he still holds 75% of Genting Hong Kong’s shares. In a signal that he still has ambitions in the cruise industry, he’s among the bidders  looking to buy a still-unfinished, 1,122-foot megaship  that was being built in Genting’s German shipyard for another of the company’s lines, Dream Cruises Holding Ltd., which has also filed a winding up petition.

Outside the company, luxury competitors such as Silversea, Regent Seven Seas Cruises Inc., and Seabourn (owned by Carnival Corp.) now have access to the high-end clientele that Crystal is leaving behind. Regent, in particular, has jumped to seize the opportunity, reaching out to Crystal guests and travel agents with offers to help them get rebooked on its ships.

As of this week, the 848-passenger  Crystal Symphony  and 980-passenger  Crystal Serenity  sit anchored off Freeport, Bahamas, under arrest as a result of the unpaid fuel bills. The  Crystal Endeavor  was last spotted in Montevideo, Uruguay, and is expected to be arrested by vendors owed money.  All three are now being managed by V.Ships Leisure, Bloomberg has confirmed.

For Crystal’s crew, currently stranded on the ships, the saga may continue. If the company aims to sell any of those vessels, having a crew to maintain them will help. 

Before the line shutdown, Monty Mathisen, editor of  Cruise Industry News , was predicting potential buyout prices for the Crystal Cruises brand of $1 billion to $2 billion. The story now looks significantly different. Much of that value had to do with its brand equity and loyal customers. The ships, he says, are not likely to fetch more than $400 million for the secured creditors.

The expedition ship is the most valuable at $200 million, he estimates. The other vessels will fetch substantially less—maybe $50 million for  Symphony , $100 million for  Serenity , and $18 million each for the newbuild river ships. Given that  Crystal Symphony  is 27-years-old, though, it could just  end up in a scrapyard . “Every employee is overwhelmed with sympathy and thank-you’s for travel agents and our guests in our shared, just unbelievably tragic, sadness,” says Anderson, speaking with emotion. His 100 or so land-based employees were given 48 hours notice before offices were shut down and their paychecks cut off.  

“There wasn’t even time for an official statement,” Anderson says. “What occurred minute by minute over the last two weeks could fill a book.”

© 2022 Bloomberg L.P.

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Crystal Cruises customers hoping to get their money back after the insolvent luxury operator’s sudden collapse may be out of luck.

The cruise line, which drew scrutiny earlier this month after two of its luxury vessels were seized by authorities in the Bahamas , owes more than $100 million in customer deposits and down payments, according to former Crystal Cruises president Jack Anderson.

Customers who paid for an upcoming cruise by credit card have the best chance of recovering their money, Anderson told Bloomberg on Wednesday. Refunds for those who paid for their trips in cash will be more difficult to obtain.

Meanwhile, Crystal Cruises customers who received a credit for a future voyage due to the cancellation of a trip during the COVID-19 pandemic — when many cruise lines were shut down — won’t receive any compensation at all. Travel agents who facilitated the sales will also have a hard, if not impossible, time recovering their commissions.

In a separate interview with Seatrade Cruise News , Anderson estimated that up to 80% of customers affected by the collapse had paid by credit card.

Crystal Cruises shuttered its US operations , closed its offices and laid off remaining employees effective Feb. 11.

The shutdown occurred just days after US Marshals seized two of Crystal Cruises’  luxury ships — Crystal Serenity and Crystal Symphony — in the Bahamas over $4.6 million in unpaid fuel bills. Hundreds of passengers were reportedly stranded during the incident.

A perennially top-rated cruise line, Crystal Cruises encountered financial difficulties in recent years.

Its parent company, Genting Hong Kong, indicated in a January filing that it would work with provisional liquidators to pursue a restructuring of the company. The company reported major losses during the COVID-19 pandemic.

Anderson told Bloomberg that Genting Hong Kong had “effectively washed their hands of Crystal” during its own financial struggles. The former president said Crystal Cruises had no cash remaining on hand by the time it shut down for good.

“Ultimately, we ended up with a bank account of zero,” he told the outlet.

Crystal Cruises’ website was still operational at the time of publication. The site displays the same message it has shown for days, noting that it “continues to process refunds as quickly as possible, however, there are delays from the credit card processors as they are receiving a very high volume of refund requests.”

V.Ships, a ship management firm, has taken control of three of Crystal Cruises’ vessels, including the two ships that were seized in the Bahamas.

Booked with Crystal Cruises before it suspended operations? Here's how to file an online claim.

Customers who had booked a sailing on Crystal Cruises before it suspended operations can now file a claim to try to get their money back.   

Crystal Cruises reportedly shut down at least its U.S. operations earlier this year after an arrest warrant was issued for its Crystal Symphony ship over unpaid fuel bills. A source familiar with the matter told USA TODAY last month that termination notices were issued to U.S. staff.  

The cruise line’s website – which, for weeks, had warned that its ocean cruises would be “paused” through April – now directs visitors to crystalcruiseclaims.com , where customers who had paid for travel can file a claim.  

Florida-based assignee Mark Healy is managing the liquidation of Crystal Cruises LLC, Crystal AirCruises LLC and Crystal Holdings U.S. LLC, according to a Wednesday press release. Once the companies’ assets are liquidated, Healy will need to get court approval to distribute funds to customers who submitted claims.

CRYSTAL CRUISES IS REPORTEDLY SHUTTING DOWN U.S. OPERATIONS: What happens to your bookings?

“Our goal is to maximize the recovery of assets and provide a claims process to creditors that allows them to realize the highest potential recovery regardless of the size of their claim,” Healy said in the release, adding his team would be in communication with customers  via the website.  The deadline to file a claim is June 11.  

Passengers identified as “potential creditors” should also receive an email in the next few weeks with a claim form and filing instructions. 

Healy said Crystal Cruises appears to have “limited assets” to marshal since it operated, but did not own, its ships.   

While some customers may be able to get their money back through their credit card company, travel insurance provider or other alternative methods, those without such protections or who are denied refunds are encouraged to file claims. 

It's not yet clear  how soon customers could get paid after filing a claim or how much money they could receive. 

Follow USA TODAY reporter Bailey Schulz on Twitter: @bailey_schulz . 

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Miami, July 23, 2024

Crystal Announces Release Dates For 2026 Itineraries

Crystal symphony to return to the united states for the first time since 2019.

Crystal, the leader in exceptional cruise experiences, announced today the release dates for its highly anticipated 2026 itineraries as a prelude to the official launch. This will provide guests with ample advanced notice to plan their next adventure to some of the world’s most iconic and majestic destinations, including Indonesia, Japan, East Africa, Baja, California and many more. In 2026, Crystal will continue to offer travelers unparalleled opportunities for exploration and cultural immersion - both at sea and on land. Through Crystal’s partnership with sister brand Abercrombie & Kent , guests will experience an unseen side of some of the most beloved destinations in the world, with exclusive experiences curated by local experts and tastemakers.

After spending the first part of the year in Africa and Asia, including the enchanting cherry blossom season in Japan, Crystal Symphony will return to the US for the first time since 2019 for a spectacular Alaska season followed by Canada and East Coast sailings, and ending the year with Caribbean holiday sailings. Following her World Cruise, Crystal Serenity will remain in the Mediterranean and Northern Europe before embarking on a transatlantic voyage which will eventually cross the Panama Canal to explore countries along the Pacific Coast of Central and South America before bringing her to California for the holidays. Crystal Serenity will then kick off the 2027 World Cruise from San Diego.

2026 Deployment Preview

Key Announcement Dates

• Aug. 27, 2024: Individual cruise segments for the first two calendar quarters will begin rolling out for Crystal Serenity and Crystal Symphony.
• First week of December 2024: All remaining 2026 itineraries for both ships will be available to book.

“We recognize that our loyal guests are eagerly awaiting the release of our 2026 itineraries,” said Cristina Levis , CEO of A&K Travel Group . “Our team has been diligently working to craft the most exceptional and unforgettable travel experiences for our guests, from experiencing Japan’s stunning Cherry Blossoms during peak season to a complete solar eclipse in Western Europe. We are confident that the upcoming itineraries will exceed expectations and provide unparalleled adventures for all.”

To learn more about the upcoming 2026 itineraries, or book any of Crystal’s exceptional cruises , contact your travel advisor, visit  www.crystalcruises.com  or call 1-800-446-6620.

About Crystal

For more than three decades Crystal has been synonymous with exceptional, award-winning voyages. In 2022 A&K Travel Group acquired the Crystal brand and its two vessels, Crystal Serenity and Crystal Symphony , ushering in a new era of Exceptional at Sea . The globally renowned cruise line offers discerning travelers industry-leading, authentic, and enriching experiences both onshore and at sea. Crystal’s pioneering partnership with Abercrombie & Kent provides guests with unparalleled access to the most sought-after experiences, destinations, and the latest cultural makers around the world.The reimagined ships boast larger, updated suites with artisanal finishes, new cutting-edge wellness offerings, spectacular entertainment, and complimentary world-class dining - including the return of UMI UMA - the only dining experience by Michelin-Star Chef Master Chef Nobuyuki (Nobu) at sea. With a legacy of unrivaled service and commitment to sophistication and elegance at every touchpoint, once on-board passengers feel as if they are perfectly at home.

Join our exceptional community at:

Facebook: @CrystalCruises

Instagram: @CrystalCruises

Twitter: @CrystalCruises

LinkedIn: @CrystalCruises

FOR MEDIA INQUIRIES:

Robyn Fink, [email protected]

UNITED STATES

© 2024 CRYSTAL CRUISES LTD

Crystal Cruises is shutting its US offices and has terminated employees days after 2 ships were seized in the Bahamas: report

• Crystal Cruises has shut its US offices and let its workers go, Bloomberg reported.
• The news comes days after two of its ships were seized in the Bahamas over unpaid fuel bills.
• Parent company Genting Hong Kong has filed to wind up.

Crystal Cruises is closing down its offices in the US and has let its employees go, Bloomberg reported, citing a person with knowledge of the matter.

Workers were terminated on Wednesday, Bloomberg added, citing the person who requested anonymity as the information hasn't been announced to the public. The report did not specify how many employees were let go.

The closure comes just days after two of its ships — Crystal Symphony and Crystal Serenity — were seized by authorities in the Bahamas over unpaid fuel bills, Cruise Law News reported . Crystal Cruises is headquartered in Miami.

The  Crystal Symphony  diverted to the Bahamas last month from its scheduled stop in Miami with 700 passengers on board after an arrest warrant was issued over a $1.2 million unpaid fuel bill. Earlier this month, the  Crystal Serenity  diverted to the Bahamas after it was denied entry to Aruba.

Crew members on board ships received the news of Crystal Cruises' closure via their captains, Cruise Hive reported.

"Unfortunately, this is the end of Crystal Cruises," one captain told his crew, according to a recording of his message posted to Twitter by Crew Center, a website run by former crew members. A crew member onboard Crystal Endeavour told Cruise Hive the announcement was from the captain. "We don't know what's going to happen in the future," the captain added.

Related stories

Vessel management company V.Ships will become the new managing firm, he said.

The closure of Crystal Cruises' US office comes after its parent company, Genting Hong Kong,  filed to wind up, according to a Hong Kong Stock Exchange filing dated January 19. It reported a record loss of $1.7 billion in 2020 as the pandemic devastated tourism.

Though its on-year losses narrowed by two-thirds to $238 million in the first half of 2021, the company's woes continued.

Crystal Cruises  announced on January 19 that it would suspend all cruises through May. Just one ship — Crystal Endeavor — in its fleet of eight is still at sea, according to cruise tracking website cruisemapper.com . 

Crystal Cruises, Genting Cruise Lines in Hong Kong and V.Ships did not immediately reply to Insider's requests for comment.

Crystal Cruises has a far smaller fleet of eight ships than rivals like Carnival and Royal Caribbean, which have a fleet of 26 each, according to their websites. Norwegian Cruise Line has 19 ships.

Crystal Cruises ships, such as Crystal Serenity, which can carry 900 passengers, are known for fancy features like penthouse suites with butler services. Serenity has also hosted celebrity chef Nobu Matsuhisa .

• Main content

Here’s What Happened to the Former Crystal Cruises Fleet

• July 23, 2022

Crystal Cruises’ ocean-going fleet have found new homes. Here’s the latest on the new destinations for the Crystal’s ships:

Crystal Endeavor Year Built: 2021 Capacity: 200 guests Status: Sold to Silversea Cruises

Silversea Cruises acquired the former Crystal Endeavor earlier this month. Sold for $275 million, the 2021-built expedition vessel will be renamed Silver Endeavour before entering service for the ultra-luxury operator.  

Set to debut in time for the 2022-2023 season in Antarctica, the ship is expected to undergo a minor refit work that include signage changes, the addition of Silversea’s livery and a few restaurant adjustments.

Crystal Serenity Year Built: 2003 Capacity: 980 guests Status: Sold to A&K Travel Group

In June, the Crystal Serenity was sold to the A&K Travel Group at auction for $103 million .

According to the new owners – who also bought the Crystal Cruises brand and other assets – the vessel will be subject to a major refit before resuming service in 2023 .

Crystal Symphony Year Built: 1995 Capacity: 848 guests Status: Sold to A&K Travel Group

The Crystal Symphony was sold at a judicial auction in June. Like its fleet mate Crystal Serenity, it was bought by the A&K Travel Group , who bought the ship with a bid of $25 million for the 1995-built luxury vessel.

Before resuming service in 2023, the ship will also be subject to a major revitalization, the new owners revealed recently .  

Crystal Esprit Year Built: 1989 Capacity: 48 guests Status: Sold to Lindblad Expeditions   

Sold by Crystal Cruises in September 2021, the Crystal Esprit was acquired by Lindblad Expeditions .

Renamed National Geographic Islander II, the 48-guest mega yacht will offer year-round expeditions to the Galapagos Islands. After a significant refit in Northern Europe, the former Esprit is set to launch service for its operator in August .

Crystal Bach, Crystal Mahler, Crystal Debussy and Crystal Ravel Year Built: 2017 and 2018 Capacity: 106 guests each Status: Pending

While all the former ocean-going Crystal ships have now met their fates, the company’s river fleet continues to sit in limbo.  

Built by the MV Werften between 2017 and 2018, the four Rhine-Class sister ships are currently laid up in Netherlands.

Crystal Mozart Year Built: 1987 Capacity: 154 guests Status: Pending

Like its Rhine fleet mates, the Crystal Mozart is also waiting for a decision regarding its future. Rumors suggest the ship has been sold.

Currently docked in Austria, the vessel was built in 1987 and underwent a full revitalization before joining Crystal in 2016. As the biggest river ship in the fleet, it has capacity for a total of 160 guests.  

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What We Know About the Global Microsoft Outage

Airlines to banks to retailers were affected in many countries. Businesses are struggling to recover.

• Share full article

By Eshe Nelson and Danielle Kaye

Eshe Nelson reported from London and Danielle Kaye from New York.

Across the world, critical businesses and services including airlines, hospitals, train networks and TV stations, were disrupted on Friday by a global tech outage affecting Microsoft users.

In many countries, flights were grounded, workers could not get access to their systems and, in some cases, customers could not make card payments in stores. While some of the problems were resolved within hours, many businesses, websites and airlines continued to struggle to recover.

What happened?

A series of outages rippled across the globe as information displays, login systems and broadcasting networks went dark.

The problem affecting the majority of services was caused by a flawed update by CrowdStrike , an American cybersecurity firm, whose systems are intended to protect users from hackers. Microsoft said on Friday that it was aware of an issue affecting machines running “CrowdStrike Falcon.”

But Microsoft had also said there was an earlier outage affecting U.S. users of Azure, its cloud service system. Some users may have been affected by both. Even as CrowdStrike sent out a fix, some systems were still affected by midday in the United States as businesses needed to make manual updates to their systems to resolve the issue.

George Kurtz, the president and chief executive of CrowdStrike, said on Friday morning that it could take some time for some systems to recover.

How a Software Update Crashed Computers Around the World

Here’s a visual explanation for how a faulty software update crippled machines.

What was affected?

It is more apt to ask what was not affected. Everything from airlines to banks to health care systems in many countries was hit.

In Australia, passengers were stuck in long lines at Sydney airport as information screens went blank, and programming was disrupted at the national broadcaster. Airports in Britain, Germany and Taiwan had long delays at check-ins and flights were delayed or canceled. At an airport in South Korea, handwritten boarding passes were being slowly handed out.

How the airline cancellations rippled around the world (and across time zones)

Share of canceled flights at 25 airports on Friday

50% of flights

Ai r po r t

Bengalu r u K empeg o wda

Dhaka Shahjalal

Minneapolis-Saint P aul

Stuttga r t

Melbou r ne

Be r lin B r anden b urg

London City

Amsterdam Schiphol

Chicago O'Hare

Raleigh−Durham

B r adl e y

Cha r lotte

Reagan National

Philadelphia

1:20 a.m. ET

Flights continued to be disrupted at some U.S. airports into the morning because of the cascading effect of flight delays and cancellations. The Federal Aviation Administration said in a statement that ground stops and delays would be “intermittent” at some airports as airlines grapple with residual technology issues.

The outage affected emergency 911 lines in multiple states, the U.S. Emergency Alert System said on social media — but most if not all of the emergency system problems appeared to be resolving themselves by midmorning.

A few hospitals in Germany said they would cancel elective procedures; and in Britain, some doctors in the National Health Service were unable to gain access to systems. Kaiser Permanente, a medical system that provides care to 12.6 million members in the United States, said all of its hospitals’ systems were affected, and it activated backup systems to keep caring for patients.

At some banks, including JPMorgan Chase, there were delays in processing trades because bankers could not log into their work systems. TD Bank, the 10th largest in the United States, said customers complained that they could not access their online accounts.

But the problems were not uniform. London’s Heathrow Airport said that its flights were still operating. The London Stock Exchange said that it could not publish news updates but the exchange, where trades take place, was working as normal. The auction system at the Norwegian central bank was briefly interrupted, but other major central banks, the European Central Bank and Bank of England, said there was no effect on their systems.

In some cases, issues were resolved relatively quickly. In Ukraine, Sense Bank and the mobile operator Vodafone reported brief problems with their services. At Dubai International Airport, two airlines switched to alternative systems, allowing operations to resume.

Major grocery chains in the United States appeared largely unaffected, with most stores operating as usual. But the world’s biggest logistics companies, including United Parcel Service and FedEx, did report disruptions, causing delivery delays in some regions. A spokesman for UPS said the company’s computer systems in the United States and Europe were affected.

Who’s to blame?

Mr. Kurtz said CrowdStrike took responsibility for the software bug, sent in a system update, that caused the outage. He said in a post on X that Mac and Linux users were not affected.

The incident was not a cyberattack, Mr. Kurtz said, adding that customers remain “fully protected.” But Mr. Kurtz warned on NBC’s “Today” show that the fix could take some time to put in place.

“We understand the gravity of the situation and are deeply sorry for the inconvenience and disruption,” Mr. Kurtz said. Microsoft offered suggestions to users to help resolve the issue, including restoring backup systems.

While CrowdStrike is at fault for the software bug, J.J. Guy, chief executive of cybersecurity company Sevco, said poor resiliency of Microsoft’s operating system is to blame for extent of the damage.

“Bugs happen all the time and are unavoidable, the result of business complexity and technology,” Mr. Guy said. “But this became a catastrophic incident because of the remediation procedures. The resiliency of the operating system was not sufficient to mitigate the risk of that.”

Microsoft did not immediately respond to requests for comment on its operating system. The company’s chief executive, Satya Nadella, said in a post on X that Microsoft is working with CrowdStrike to offer customers technical guidance and bring systems back online.

Eshe Nelson is a reporter based in London, covering economics and business news for The New York Times. More about Eshe Nelson

Danielle Kaye is a business reporter and a 2024 David Carr Fellow, a program for journalists early in their careers. More about Danielle Kaye

Why your favorite cruise line probably isn't going out of business, despite the COVID shutdown

Could the end be near for your favorite cruise line?

Given that most cruise companies haven't operated a single voyage in nearly six months, and it's unlikely that cruising will resume in a meaningful way anytime soon, it's perfectly reasonable for you to worry about such a thing.

And, we do know you're worrying. We read all those emails you send us.

But we have some good news for those of you with thousands of dollars tied up in bookings for future sailings: The three big, publicly traded companies that operate most of the biggest lines, including Royal Caribbean , Carnival Cruise Line , Norwegian Cruise Line and Princess Cruises , aren't in imminent danger of sliding into bankruptcy -- let alone collapsing completely.

For more cruise news, reviews and tips, sign up for TPG's new cruise newsletter.

Indeed, all three of the companies -- Carnival Corporation, Royal Caribbean Group and Norwegian Cruise Line Holdings -- currently have enough cash on hand to muddle along for well over a year without a single dollar of revenue. Really. It sounds impossible. But it's true.

The biggest of the three, Carnival Corporation, currently is burning through around $650 million per month without any ships sailing -- a staggering sum. But as the company's executives noted in July during a conference call with Wall Street analysts, Carnival Corporation had $7.6 billion in "liquidity" -- cash and cash equivalents -- as of May 31, when it closed the books on its second quarter. It added another $2.6 billion in liquidity in June through a senior secured loan.

Related: Even cruise executives are surprised by how many people are booking cruises

Also, Carnival Corporation has other levers to pull to raise even more money should there be a need, its executives have said.

"Additional cash conservation efforts, combined with future liquidity measures, will enable us to sustain ourselves beyond 12 months into late next year, even in a zero-revenue scenario," Carnival Corporation president and CEO Arnold Donald said during the conference call.

Carnival Corporation is the parent company of four North American cruise brands that cruising fans know well: Carnival, Princess, Holland America and Seabourn. It also owns five overseas brands including the U.K.'s Cunard Line and Europe's Costa Cruises.

If you've got a booking on any of them, you shouldn't be too panicked -- at least for now.

The two other big, publicly traded cruise companies are in a similar position.

During a conference call with Wall Street analysts in August, Royal Caribbean CFO Jason Liberty said the company was burning through about $250 to $290 million a month during the cruising shutdown but had liquidity of more than $4 billion.

Norwegian Cruise Line Holdings in August said it was burning through about $160 million a month but had liquidity of $2.8 billion.

Related: How to book a cruise with points and miles

In other words, the two companies had enough cash and cash equivalents on the books in August to survive nearly 14 and 18 months, respectively, with no cruising.

Royal Caribbean Group is the parent company of Royal Caribbean, Celebrity Cruises, Azamara and Silversea. Norwegian Cruise Line Holdings is the parent company of Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises.

Add in Carnival Corporation's nine brands, and that makes for 16 of the world's biggest cruise lines that are in a reasonably solid financial position for now.

Of course, if the cruising shutdown continues into late next year or beyond, all bets are off. But the current consensus in the cruise world is that many vessels will be able to resume cruising long before then. Already, several lines have restarted limited sailings in some parts of the world.

Among the lines that have begun tiptoeing back into operation with a few sailings is Germany's Tui Cruises, which Royal Caribbean partly owns through a joint venture. Carnival Corporation's Costa Cruises is scheduled to resume limited operations in just a few days.

Related: Has MSC Cruises cracked the code for a safe return to cruising?

The massive liquidity positions of the three publicly traded cruise companies weren't always in place. In the early days of the cruising shutdown, the companies only had enough cash on hand to survive a few months. But all the companies have raised huge sums of money in the financial markets in recent months through stock and bond sales, and loans.

Going into the coronavirus crisis, all three of the big cruise companies were in great financial condition with solid profits and lots of valuable assets -- most notably their ships -- that they could pledge as collateral when raising new capital.

"The strength of our balance sheet, our assets and our brands has been evident during this pandemic as we raised approximately $6.5 billion in new liquidity since we announced the suspension of our global cruise operations," Royal Caribbean's Liberty noted during the company's August conference call with analysts.

Carnival Corporation has secured more than $10 billion in new capital since March.

If you have a booking on a cruise right now, chances are it's with one of the three big companies mentioned above. Together, they account for around three-quarters of all cruises taken worldwide.

But there are other cruise lines out there, of course. And, unfortunately, the financial position of some of them is less clear.

Quite a few of the smaller cruise lines marketing to North Americans, including most river lines aimed at North Americans, are privately owned. Their financial positions are thus shielded from view. We're talking about such lines as AmaWaterways, American Cruise Lines, UnCruise Adventures and Uniworld Boutique River Cruise Collection.

Related: Cruise executives say they're in no rush to return to service

One big cruise line, MSC Cruises, also is privately owned, as is Viking.

None of these lines have indicated they are in financial trouble, and some of them have suggested that they, too, can withstand a cruising shutdown lasting many more months.

"We are a private, closely held company, which means we do not have to rush the decision to return to service," Viking chairman Torstein Hagen said in August in a letter to customers.

Still, without a peek at the books of such companies, it's impossible for The Points Guy or any other outside entity to offer enlightened commentary on their financial viability.

Alas, the cruising shutdown already has taken a toll among the ranks of small cruise operators. Five relatively minor cruise brands -- two of them operating just one ship each -- have filed for the equivalent of bankruptcy or shut down completely in recent months.

The biggest of the lines to shut down was Cruise & Maritime Voyages, a six-ship company that was the second-largest cruise brand in the U.K. While the company primarily drew British passengers, The Points Guy has heard from several U.S.-based cruisers who had given the line thousands of dollars for upcoming sailings and fear they may never get the money back.

Four of the five small lines that have shut down were Europe based. Only one U.S.-based cruise brand, tiny Blount Small Ships Adventures, has shut down since the coronavirus crisis began. The company operated three small vessels on U.S. rivers and coastal waterways.

One other cruise company that has experienced financial difficulties of late is Hong Kong -based Genting Hong Kong, the parent company of Crystal Cruises. The company in August disclosed that it had stopped making payments to creditors amidst a sharp loss of revenue due to the coronavirus crisis.

The announcement came two days after the company missed a 3.7 million euro payment of fees related to the construction of certain ships.

In a subsequent financial disclosure, the company said it had $397.5 million in cash and cash equivalents as of June 30 and had net operating cash outflows of $252.4 during the first six months of the year. The company did not disclose its current cash position.

The company has begun negotiations with its creditors to restructure its debt, which stood at nearly $3.4 billion at the end of July.

Related: Some travel insurance companies limit coverage for Crystal

The Genting Hong Kong disclosure prompted Crystal Cruises to issue a statement in late August saying it was not going out of business .

Genting Hong Kong is the parent company of Crystal Cruises as well as two Asia -based cruise lines: Dream Cruises and Star Cruises. It also owns the Werften shipyards in Germany , where the first expedition ship for Crystal Cruises currently is under construction. In addition, it's a joint venture partner in Resorts World Manila in the Philippines.

Genting Hong Kong this week sold its discotheque division, Zouk Group, for about $10 million as it sheds non-core assets in a bid to maintain liquidity.

Additional resources for cruisers during the coronavirus outbreak:

• When will cruising resume? A line-by-line guide
• Why you shouldn't expect bargain-basement cruise deals anytime soon
• How to cancel or postpone a cruise due to coronavirus
• Everything you need to know about a future cruise credit
• Stream these 13 movies, television shows to get your cruise ship fix