(Bloomberg) -- Royal Caribbean Cruises Ltd. is selling its Azamara brand to private equity firm Sycamore Partners, the latest example of a cruise company shedding assets during the Covid-19 pandemic.
The $201 million cash deal includes Azamara’s entire three-ship fleet and intellectual property, Royal Caribbean said in a statement Tuesday.
Royal Caribbean Chief Executive Officer Richard Fain said the company will focus its growth on its Royal Caribbean International, Celebrity Cruises and Silversea brands.
For the better part of a year, the coronavirus has mostly shuttered the cruise industry, prompting companies to reassess their fleets and raise billions of dollars in debt to stay solvent. Carnival Corp., the world’s biggest cruise company, is speeding up the removal of 19 ships.
Royal Caribbean shares were up 1.7% to $74.14 at 9:37 a.m. in New York. The stock tumbled 44% last year.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
The oldest person in the world died at the age of 119
Macabre find in CDMX: they left a body bagged and tied in a taxi
The eagles of America will face Manchester City in a duel of legends. Here are the details
Why is it good to bring dogs out to know the world when they are puppies
