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Old 03-17-2004, 10:07 AM
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Has any one heard what is happening to The Sundream? I heard it was repossessed??
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Old 03-17-2004, 10:07 AM
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Has any one heard what is happening to The Sundream? I heard it was repossessed??
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Old 03-19-2004, 03:56 AM
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Hi Lorrie,

Sun Cruises is reducing its capacity from four ships to two, retiring "Sundream" and "Seawing". "Seawing" was being operated by Royal Olympia Cruises for most of the year already for some time and is currently arrested as a result of that company's financial crisis. As far as I know, "Sundream" has yet to find new owners.
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Old 03-19-2004, 05:56 PM
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Raoul, do you know why this is being done? Is Sun Cruises/Airtours in financial crisis?
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Old 03-20-2004, 03:01 AM
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Hi Wayne,

MyTravel - formerly Airtours - has been in financial difficulties for quite some time. It's not that they are expected to go belly-up any day, but they do have to streamline their operations in order to become profitable again.

There have been numerous reports that they might sell off Sun Cruises completely, but obviously this has not been done, yet. "Sundream" has been on the sales market for quite some time at a desired price of US$ 16 million. "Seawing" is offered for US$ 23 million, which is a ridiculous price. Her sister ship "Flamenco" was recently sold for US$ 12.5 million.
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Old 03-20-2004, 11:26 AM
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Thanks Raoul
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Old 03-21-2004, 10:28 AM
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Thanks for the update. Lets hope the remaining ships will fair out. This is an affordable cruise line for many.
 
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