Parent company of Windstar Cruises sheds more assets in...*Includes Windstar Response

In a statement issued Tuesday, the financially struggling company, Ambassadors International, said it would sell its marine division to a company affiliated with its former CEO, Joseph Ueberroth.

Parent company of Windstar Cruises sheds more assets in bid to ...

Wonder how this will impact bookings for next year?

Back in March, they said they would release the 2010 summer schedule in April. It is now May and nothing has been released.

I know that, just recently, their ships have been sailing far short of full capacity (especially the larger Wind Surf)

They have also been offering low price last minute sailings to try and fill their ships.

One thing that would help them is to offer some new itineraries. There is a limit to how often repeat and loyal passengers will go back to the same old ports of call.

Wonder how this will impact bookings for next year?

 

Back in March, they said they would release the 2010 summer schedule in April. It is now May and nothing has been released.

We received the 2010/2011 brochure in the mail yesterday.

We were concerned about our Windsurf cruise that is sailing in less than two weeks. As everyone knows bankruptcies happen very suddenly some times and we feared that something might happen while we were on our pre-cruise trip in northern Italy. I emailed Diane Moore, the Windstar President, to see what I could find out. I received a very swift and reassuring response. She stated that all of their actions have been to protect the viability of the core Windstar operation and assured me that the May 17th Nice/Monte Carlo cruise would sail as planned with nearly 300 passengers.

I have been following this the past few weeks also. Stock hit a low of $.23 last week, but with the selling of their Marine assets it moved up to $.71. Everything I read is that they are committed to Windstar. But it these economic times who knows.

Our daughter is booked on the WindSurf for her honeymoon next month, and needless to say hope it all works out. We just booked Wind Star in July at a very low price. Took independent insurance out which includes bankruptcy coverage.

 

One thing that would help them is to offer some new itineraries. There is a limit to how often repeat and loyal passengers will go back to the same old ports of call.

I second that! Particularly the winter sailings. How many times can you go to St Thomas? I wish they would go to some other islands.

I second that! Particularly the winter sailings. How many times can you go to St Thomas? I wish they would go to some other islands.

No kidding! Couldn't agree more!

We received the 2010/2011 brochure in the mail yesterday.

Hope we receive it shortly.

We got our new brochure yesterday

Thanks for the information about the problems of Windstar's parent company. We had been booked on a relocation sailing April 10,2010. Now we're not. I'd sure hate see Windstar go under but, even more, I'd hate to watch our deposit go down with them.

Thanks for the information about the problems of Windstar's parent company. We had been booked on a relocation sailing April 10,2010. Now we're not. I'd sure hate see Windstar go under but, even more, I'd hate to watch our deposit go down with them.

That's what travel insurance is for.

Oh dear, not good. We're booked on the TA in Nov. from Lisbon to St Thomas. All our airlines and hotels are paid for, and are non refundable. We always get the insurance at the final payment, as that is when it covers pre-existing. I know it sounds backwards, but that's how it works with this particular agency. Guess I'm making the final payment Monday. That way I 'll have the insurance NOW, just in case. Then if everything is OK in NOv, it's already paid for.

Thanks for the information about the problems of Windstar's parent company. We had been booked on a relocation sailing April 10,2010. Now we're not. I'd sure hate see Windstar go under but, even more, I'd hate to watch our deposit go down with them.

Cancelling bookings seems like a good way to ensure they go out of business.

Travel insurance can be a terrific idea when booking any expensive travel. However, this particular relocation cruise (4/10) wasn't that expensive ($3500) enough to justify purchasing insurance. Also, travel insurance now often excludes financial collapse of a cruise company unless this is paid for as an additional item. Always review you policy for exclusions! As to contributing to the bankruptcy of Windstar, I hardly think my thousand bucks will be the tipping point. If Windstar is still in business next year, we can always rebook. If not, there are other cruise lines that offer a similar experience. That said, I would hate to see them go under as I've always wanted sail with them. I recall seeing the Windsong in Moorea many years ago and it took my breath away.

Travel insurance can be a terrific idea when booking any expensive travel. However, this particular relocation cruise (4/10) wasn't that expensive ($3500) enough to justify purchasing insurance. Also, travel insurance now often excludes financial collapse of a cruise company unless this is paid for as an additional item. Always review you policy for exclusions! As to contributing to the bankruptcy of Windstar, I hardly think my thousand bucks will be the tipping point. If Windstar is still in business next year, we can always rebook. If not, there are other cruise lines that offer a similar experience. That said, I would hate to see them go under as I've always wanted sail with them. I recall seeing the Windsong in Moorea many years ago and it took my breath away.

A couple of points, I believe your CC company would cover you in the case of financial default (at least until the point of sailing).

It does not appear that you have ever sailed on Windstar. There is no line that offers a similar experience.

I booked two weeks ago during when their current financial status arose. Took travel insurance with an independent company which included bankrupcy coverage. Problem with most bankrupcy coverage is that it is only valid if you pay up to 15 days after making your deposit. Hope that things work out for Windstar.

Just returned from an overall excellent sailing on the Wind Surf (Lisbon - Barcelona 4-19 departure). The food and service were both outstanding - only negative was incomplete dry dock maintenance resulting in lingering paint and lacquer work and smell for passengers for a number of days.

Unfortunately, the parent company of Windstar (Ambassadors International) faces significant financial challenges. In the recently released annual report the company disclosed that it was in default on a $3 Million loan payment. Therefore, its sale of its marine division for $5M can be seen as an effort to buy some time. The annual report also contained language highlighting questions about the company's ability to be an ongoing concern and the age of the 3 ships. Our cruise only had 204 passengers with a capacity of 315. I hope Windstar makes it but the financial facts are what they are.

im really confused i thought windstar was part of carnival although run seperately, its advertised on other csarnival group ships as part of the group.

Lovecruisingtoo -- You're right. I've never cruised on Windstar so I'm hardly an expert on this line. That said, I have been on other sailing ships (Royal Clipper, Star Flyer, and the Maple Leaf) and in October/November will be on the Star Clipper's relocation cruise from Athens to Thailand (37 nites). My research comparing the two cruiselines is that Windstar is better on food and accomodations. Star Clippers wins on being an authentic sailing experience. Assuming that Windstar survives the economic troubles of its parent company, no doubt I will enjoy sailing with them.

Just returned from an overall excellent sailing on the Wind Surf (Lisbon - Barcelona 4-19 departure). The food and service were both outstanding - only negative was incomplete dry dock maintenance resulting in lingering paint and lacquer work and smell for passengers for a number of days.

 

Unfortunately, the parent company of Windstar (Ambassadors International) faces significant financial challenges. In the recently released annual report the company disclosed that it was in default on a $3 Million loan payment. Therefore, its sale of its marine division for $5M can be seen as an effort to buy some time. The annual report also contained language highlighting questions about the company's ability to be an ongoing concern and the age of the 3 ships. Our cruise only had 204 passengers with a capacity of 315. I hope Windstar makes it but the financial facts are what they are.

Thanks for the report, homerun. Are you past Windstar passengers? How did you compare the service and food to prior voyages? We have sailed about 7 times on Windstar and are currrently booked for an October trip on the Surf. We were wondering if there would be any noticeable cutbacks, e.g. in service or menu items. I would appreciate any other comments from recent travelers. We too hope that Windstar makes it!

im really confused i thought windstar was part of carnival although run seperately, its advertised on other csarnival group ships as part of the group.

Carnival sold Windstar Cruises to Ambassador International in 2007.

I can't imagine what would happen to the 3 ships if the company went bust. I can't see Carnival buying them back nor can I see RCI/Celebrity or NCL buying them. Who else would be likely to take them on?

We received the 2010/2011 brochure in the mail yesterday.

Since we didn't receive a brochure, I sent in a request via the web page. Guess what, received the 2009 / 2010 brochure that only goes through April.

im really confused i thought windstar was part of carnival although run seperately, its advertised on other csarnival group ships as part of the group.

No, Windstar is not part of Carnival. It's owned by Ambassadors International.

The attached pdf doc is a Form 10-Q filing with the SEC by Amabassadors International, apparently filed yesterday. Not easy reading but useful information for those of us concerned about Windstar.

We hope to be on WindSpirit on August 22, Istanbul to Athens.

As to insurance for financial default, it's still not too late to get coverage. Not all policies require that you take out coverage within a fixed time after initial or final payment for the trip. I found one online that does not have this limitation, but coverage is not effective until seven days after you pay the premium. Bankruptcy before the seven days are up is not covered.

http___biz.yahoo.com_e_090515_amie10-q.pdf