Happy Cruises ceases operations only temporarily

The Spanish-based cruise line, Happy Cruises, is considering different plans to continue operating after having ceased operations temporarily this weekend. The purpose of its shareholders is still work in the coming days, as preferente.com has known.

The Board of Directors will consider on Monday a number of alternatives to overcome the difficult situation being experienced by the cruise company, due to lack of liquidity.

Shareholders will vote whether to continue. The majority shareholder is Globalia with a 20 percent ownership of Happy Cruises. Will the first Spanish travel group provide more the capital? Globalia Group is neither in their best moment.

Other partners, particularly the one linked to the savings banks through Ahorro Corporación, are seeking the support of these and other financial institutions to provide capital. The problem is illiquidity. But do not despair and think they can resume operations. The truth is that we still are not even in bankruptcy.