COVID-19 Cruise Line Bankruptcies - Cruising Earth
COVID-19 Cruise Line Bankruptcies
The COVID-19 pandemic dealt a devastating blow to the cruise and travel industry, pushing several cruise lines into bankruptcy. With prolonged travel restrictions, plummeting bookings, and mounting financial struggles, these companies were unable to recover and ultimately ceased operations. This page highlights seven cruise lines that did not survive the pandemic, a number that may seem lower than expected given the immense challenges the industry faced. Their stories serve as a testament to both the hardships endured and the resilience of the cruising industry during its most turbulent era.
- Bahamas Paradise Cruise Line
1
COVID-19 led to the collapse of Bahamas Paradise Cruise Line by halting cruise operations due to travel restrictions and health concerns, severely impacting its revenue. In May of 2022 the company was rebranded to Margaritaville at Sea following a partnership between Bahamas Paradise Cruise Line and Jimmy Buffet's Margaritaville brand.
Cruise Line Details
Founded: 2014
Headquarters: Deerfield Beach, Florida
Parent Company: NA
Folded: 2022 / 8 years - Cruise & Maritime Voyages
2
Cruise & Maritime Voyages went into receivership shortly after the COVID-19 pandemic began. Its' ships were sold for scrap. A COVID-19 Pandemic related loss.
Cruise Line Details
Founded: 2009
Headquarters: Essex, United Kingdom
Parent Company: Cruise & Maritime Services International
Folded: 2020 / 11 years - Crystal Cruises
3
Crystal Cruises filed for bankruptcy in early 2022 after its parent company, Genting Hong Kong, collapsed under financial strain. The luxury cruise line faced mounting debt exacerbated by the COVID-19 pandemic. As a result, Crystal Cruises ceased operations. In 2023, the brand was revived under a new name 'Crystal', and new ownership by Abercrombie & Kent.
Cruise Line Details
Founded: 1988
Headquarters: Downers Grove, IL
Parent Company: Genting Hong Kong
Folded: 2022 / 34 years - FTI Cruises
4
FTI Cruises folded on October 31, 2020. A COVID-19 pandemic related loss. Its' single ship, Berlin, was sold to Dreamliner Cruises and renamed Dream Goddess. The ship was retro-fit for luxury yacht services.
Cruise Line Details
Founded: 2011
Headquarters: Munich, Germany
Parent Company: FTI Group
Folded: 2020 / 9 years - Jalesh Cruises
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Jalesh Cruises went into bankruptcy and folded after just one year in service. Its' single ship, Karnika, was sold for scrap. A COVID-19 Pandemic related loss.
Cruise Line Details
Founded: 2019
Headquarters: Mumbai, India
Parent Company: Zen Cruises Pvt Ltd
Folded: 2020 / 1 years - Portuscale Cruises
6
Portuscale Cruises ceased operations due to financial struggles that were exacerbated by the COVID-19 pandemic. The Portuguese cruise line, which specialized in operating classic ships, faced ongoing financial difficulties before the pandemic. However, the global shutdown of the cruise industry in 2020 further strained its operations, ultimately leading to its collapse.
Cruise Line Details
Founded: 2013
Headquarters: Lisbon, Portugal
Parent Company: NA
Folded: 2021 / 8 years - Pullmantur Cruises
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Pullmantur Cruises filed for bankruptcy protection in Spain in June 2020. Two of its' ships, former Royal Caribbean ships, Monarch of the Seas and Sovereign of the Seas, were sold and scrapped in Aliağa, Turkey. Pullmantur Cruises officially folded in 2021.
Cruise Line Details
Founded: 1996
Headquarters: Madrid, Spain
Parent Company: Royal Caribbean Cruises Ltd.
Folded: 2021 / 25 years