Cruise

“We are truly sorry”: Cruise & Maritime Voyages enters administration

In very sad news, Cruise & Maritime Voyages (CMV) and its sister companies South Quay Travel & Leisure, Independent Coach Travel and Viceroy have entered into administration.

The cruise line has ceased trading entirely, including its international sales offices in Australia, France, the United States and TransOcean Kreuzfahrten in Germany.

The collapse of CMV and its sister companies is likely to result in the redundancy of UK employees and an uncertain future for those employees in the wider group, according to a statement issued by the cruise line.

As cruise operations are currently suspended, there are no passengers onboard any CMV ships.

When COVID-19 struck earlier this year, CMV managed to repatriate crew, passengers and six ships from around the world back to their home ports in the UK without one single reported case of the virus.

The suspension of CMV’s worldwide cruise program on 13 March 2020 through to 25 August 2020 has affected over 50,000 British and international passengers which, in turn, has greatly impacted the business.

Paul Williams, Phil Dakin and Edward Bines of Duff & Phelps have been appointed joint administrators of the companies.

“The travel, tourism and wider hospitality industry has been engulfed with a devastating and unprecedented global pandemic of seismic proportions impacting very hard on CMV’s once-thriving cruise business compounded by last week’s Foreign and Commonwealth Office (FCO) advisory against cruise travel,” Williams said.

“Unfortunately, despite the collective very best efforts and being very close to securing the long-term finance needed, CMV was unable to conclude the funding within the timescales required, which has led to the administration of the business.”

CMV chief executive Christian Verhounig said the companies’ directors “worked tirelessly” with the cruise line’s financial advisors, investment bankers, lawyers, and numerous private equity and hedge fund investors to try and secure the required funding.

“Only last year, CMV was celebrating a record trading year and our first decade in cruising, but the CMV journey has tragically been cut short by this unprecedented global pandemic,” he said.

“Prior to the onset of COVID-19, we had sold nearly 90 per cent of 2020 capacity and we had bullish prospects for the future having sold nearly 50 per cent of 2021 UK capacity.

“Despite this positive forward booking position, we could just not get the financing deal over the line in time to save this wonderful business.

“We are truly sorry to our loyal and hard-working shoreside staff and seafarers, travel trade partners and suppliers who have all patiently stood by us and to our valued passengers for the disappointment and further disruption to their cruising holiday plans.

“On behalf of the CMV family, directors and shareholders, I would like to thank everyone for their great support and sincerely apologise for these circumstances which are directly related to Covid-19 and beyond our control.”

Further details on how affected customers can make a claim can be found on CMV and TransOcean Kreuzfahrten’s local websites.

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Travel Agents

Company behind Helloworld agencies placed into liquidation

by Huntley Mitchell

Despite the efforts of administrators to keep it afloat, the company couldn’t sustain enough cash flow to survive.

Share

CommentComments

Aviation

Rex scraps break-even forecast for FY21, as Melbourne lockdown bites

The airline’s bean counters have been forced to revisit their FY21 guidance with a red pen.

Share

CommentComments

Events

Wet Gucci bags, a medical emergency and “men peeing everywhere”: Luxe Whitsundays lunch ends in disaster

The coveted event, which Tourism & Events Queensland partnered on, was reportedly cut short by an hour-and-a-half following a medical emergency.

Share

CommentComments

Destinations

Visit Sunshine Coast hires new head of marketing

VSC has appointed a new CMO, who we assume will report to the CEO. We had no intention of using so many acronyms, BTW.

Share

CommentComments

Cruise

“Not asking for special treatment”: CLIA slams government’s cruise ban extension

Staff at CLIA’s Aussie office have been told to give Joel Katz a wide berth today following the Health Minister’s latest announcement.

Share

CommentComments

Wholesalers

Bunnik Tours releases first-ever WA trip

The family-owned tour company has added WA to its domestic repertoire. We hear Dennis Bunnik has also added a few more hits to his karaoke repertoire.

Share

CommentComments

Aviation

Virgin Australia flies in new chief commercial officer

Meanwhile, mooted retirement presents for John MacLeod included a Big Mouth Billy Bass singing fish and a day clock.

Share

CommentComments

Destinations

STUDY: Victoria tops nation with highest return on destination marketing investment

TTF’s Margy Osmond reckons Australian states and territories need to pull their socks up when it comes to tourism expenditure.

Share

CommentComments

Aviation

Influencer exposed for faking business-class flight

The influencer who pulled this stunt is also a French reality TV star and model, which we reckon is the trifecta of most hated professions.

Share

CommentComments

Hotels

Newcastle’s first five-star hotel opens its doors

The hotel is in the city’s iconic Roundhouse building, meaning the hotel bar has a 360-degree view of Newcastle’s skyline, which could prove problematic for those looking for the exit after a few cocktails.

Share

CommentComments

Travel Agents

FCM rolls out global net-zero carbon offsetting program

Meanwhile, Travel Weekly has upped its sustainability credentials with some new office recycling bins. The old ones were getting pretty gross.

Share

CommentComments

Cruise

Royal Caribbean avoids charges over White Island tragedy

The cruise line, which carried 24 Australians to the island on the day of the tragic eruption, is not among the 13 parties facing charges from New Zealand’s work safety watchdog.

Share

CommentComments