Pullmantur Cruises has announced that in the coming days it will proceed to pay the full amount of the compensation agreed with the workers, which represents an advance of almost four months compared to the deadlines previously agreed with them.
Pullmantur also reports that, in accordance with the terms agreed upon with customers, 83% of the amounts paid have been refunded. However, due to circumstances beyond the control of Pullmantur and RCL, not all customers have accepted or received the payments offered by RCL from investors in the company's business (the FCC Program, which 93% of customers have participated in, representing €21.8 million in refunds). Therefore, Pullmantur and RCL are continuing their collaboration with the aim of repaying all customers enrolled in the FCC program as quickly as possible. This has been essential to preserving the reputation of the Pullmantur brand and has helped maintain investor interest.
The company states that, however, despite the remarkable efforts made by the companies in bankruptcy (with the constant support of RCL), the inability to set a date for the resumption of activity, among other issues, makes it necessary to request the opening of the liquidation phase.
The extension of the state of emergency and its subsequent extensions, coupled with restrictions on cruise operations, forced Pullmantur, like its competitors, to postpone its plans to resume activities once again due to the restrictions in Spain to contain Covid-19, disrupting all its work plans. Faced with this adversity, Pullmantur focused its efforts on cost reduction, renegotiating contractual terms with its main suppliers, initiating claims and legal proceedings to recover outstanding amounts, streamlining its operational structure, and seeking investors.
In this chapter, Pullmantur and the Bankruptcy Administration continue working to find investors to inject funds or acquire the business.
