Pullmantur Files for Reorganization - the 1st to go ?

[Lido - Lanai]

https://www.cruiseindustrynews.com/cruise-news/23124-pullmantur-files-for-reorganization.html

[Himself]

I find this interesting.  I am sure this is not the last, unfortunately. 

[iancal]

Could be a big hit for RCI if they are carrying the paper of the ships that they sold/transferred to Pullmantur.

[CruiserBruce]

"Reorganization" is not "going". It is simply slowing down the bill due process, to give them time to get it together. Unless foreign laws are different.

[HaveWeMetYet]

6 minutes ago, CruiserBruce said:

"Reorganization" is not "going". It is simply slowing down the bill due process, to give them time to get it together. Unless foreign laws are different.

Since they chose to file in Spain it is a liquidation and a quick one. Spains bankruptcy laws are not all that friendly to debtors seeking reorganization.

RCL has already written off there investment in Pullmantour in their 1st quarter filings.

RCL is offering FCC's but not refunds to booked passengers.

[Mandalay1903]

Here's an posting that adds a little more color around the question.  Apparently, they may be "reorganizing" some of the equipment onboard as well.

 

https://www.cruiselawnews.com/2020/06/articles/disease/is-pullmantur-cruises-ending-operations/

Edited June 22, 2020 by Mandalay1903

[Two4Sea]

I was on the last trip of a ship being sold on for continued use.  One of the many tasks being done was to remove electronic/computer/software equipment which was licenced but not owned. That would include licenced navigation & communication equipment as well as administrative and entertainment equipment.  Corporate branded materials (china, linen, uniforms), shop stock, stores, bar stock and artwork would also be removed.

 

Bill

[rkacruiser]

4 hours ago, Mandalay1903 said:

Here's an posting that adds a little more color around the question.  Apparently, they may be "reorganizing" some of the equipment onboard as well.

 

https://www.cruiselawnews.com/2020/06/articles/disease/is-pullmantur-cruises-ending-operations/

 

I read the link.

 

2 hours ago, Two4Sea said:

I was on the last trip of a ship being sold on for continued use.  One of the many tasks being done was to remove electronic/computer/software equipment which was licenced but not owned. That would include licenced navigation & communication equipment as well as administrative and entertainment equipment.  Corporate branded materials (china, linen, uniforms), shop stock, stores, bar stock and artwork would also be removed.

 

Bill

 

From what I read in the link, there is a more thorough attempt to salvage material from the ships than what would otherwise be needed if the ships were not believed by the Company to be headed to Alang.  

[Despegue]

This is a bit personal for me, as I have been working in the past  as a Captain, instructor and auditor on BRM /CRM for Pullmantur/ Wamos.

 

It seems that Springwater Capital, which is the majority shareholder , is in stormy water, with Wamos Air, the Airline branch of Pullmantur on the verge of bankruptcy, relying heavily on both Hajj flights ( cancelled this year) and cruise ship passenger flights.

 

Great cruise line, virtually unknown in the US but All Inclusive, good enterntainment and decent European food. ( and high operational standards 😉).

 

 

[drsel]

[emoji444] It must have been love (ly), but it's over now [emoji444]

[iancal]

It is a shame.  Pullmantur has been on our to do list for some time.  On our last two Sept/Oct trips  to Europe we have shopped specifically for a Pullmantur cruise.  They were recommended to us by several people as being different and very good.

[Copper10-8]

10 hours ago, Despegue said:

This is a bit personal for me, as I have been working in the past  as a Captain, instructor and auditor on BRM /CRM for Pullmantur/ Wamos.

 

It seems that Springwater Capital, which is the majority shareholder , is in stormy water, with Wamos Air, the Airline branch of Pullmantur on the verge of bankruptcy, relying heavily on both Hajj flights ( cancelled this year) and cruise ship passenger flights.

 

Great cruise line, virtually unknown in the US but All Inclusive, good enterntainment and decent European food. ( and high operational standards 😉).

 

 

 

Yes Sir however, never having operated "new" ships, always "second hand roses" from RCI, Celebrity and the former Renaissance Cruise Line. Even operated the former Princess "Love boat" (Sea Venture) at one time

 

 

[rkacruiser]

12 hours ago, Despegue said:

This is a bit personal for me, as I have been working in the past  as a Captain, instructor and auditor on BRM /CRM for Pullmantur/ Wamos.

 

I appreciate your feelings and I am feel sorry for what you feel.

 

My impression of Pullmantur was that the Company began as a Spanish oriented cruise line just as Spain entered an economic meltdown.  The expected Spanish guests didn't have the resources to book.  The attempts to enter the Latin America market were somewhat successful, but Pullmantur had to compete with more established cruise lines, i.e. Costa and MSC.  

 

If my impression is incorrect, I would appreciate a correction.  

[drsel]

Costa and MSC are Italian Cruise lines.
Costa in particular, is mainly for Italians.

Pullmantur was mainly for Spanish speakers, before it closed down.

[Despegue]

8 hours ago, rkacruiser said:

 

I appreciate your feelings and I am feel sorry for what you feel.

 

My impression of Pullmantur was that the Company began as a Spanish oriented cruise line just as Spain entered an economic meltdown.  The expected Spanish guests didn't have the resources to book.  The attempts to enter the Latin America market were somewhat successful, but Pullmantur had to compete with more established cruise lines, i.e. Costa and MSC.  

 

If my impression is incorrect, I would appreciate a correction.  

I think you are quite correct...

The Spanish have a somewhat smaller cruising tradition compared to the Italians, and when cruising, seem happy to sail MSC and Costa.

Still, the  soft goods onboard experience on Pullmantur was of a different class, with very good food and free flowing drinks.

 

 

[DFD1]

Too bad. Sorry to see them go.