AMBASSADORS INTERNATIONAL, OPERATOR OF
Windstar Cruises, has been ordered to sell its
cruise line by a US court following the
company’s filing for bankruptcy.
Fortunately a private investment firm,
Whippoorwill Associates has entered into an
agreement with Ambassadors to buy
Windstar Cruises and keep it fully operational.
The sale process is expected to be
complete in 45 days, during which time
Ambassadors has pledged (pending court
approval) that all Windstar cruises will
operate as scheduled; that all of the cruise
line’s customer programs and policies will be
maintained; and that all fares, reservations,
commissions, payments and wages be
honoured.
Whippoorwill has agreed to provide
US$10m in financing to support Windstar’s
continuing operations during the sale
process.
Following the completion of the sale
Whippoorwill has said it plans to maintain
Windstar’s business and operations, as well
as to invest in the cruise line’s continued
growth.
“Once it is free of its debt burden, we are
confident Windstar will be poised to grow its
market share over the long term,” said
President of Whippoorwill, Shelley Greenhaus.
In addition to Windstar, Whippoorwill has
agreed to acquire certain assets of
Ambassador’s former Majestic America Line
operations, which ceased in 2008
