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Festival to focus on its ‘deluxe’ vessels
10/02/2004
Whatever the final outcome of its current financial problems, Festival will no longer operate Azur, Bolero and Flamenco, according to a letter from the cruise line circulated to travel agents today and signed by George F. Poulides, president of the Festival Group of Companies.
The three ships were arrested in Gibraltar in the last two weeks. All are over 30 years old. Flamenco was auctioned and sold last week for a reported $12.5m to an undisclosed buyer.

According to Poulides, the decision to not operate the three ships is part of a wider ‘financial and operative restructuring plan’ for the Festival Group that ‘is proceeding smoothly’.

‘This plan’ – continues Poulides’ circular e-mail – ‘is being deeply analyzed by the pool of banks and foresees the continuation of the Group's activities by focusing on the ‘’deluxe’’ vessels (European Stars, European Vision and Mistral) and on Caribe.’

Poulides stresses that Azur, previously operating on Med itineraries ‘is no longer part of the Festival fleet and all the scheduled cruises of this vessel are to be considered as cancelled.’ Passengers already booked on Azur will be offered other Mediterranean itineraries on Festival's 'deluxe' vessels from March to June 2004.

Poulides confidently adds, ‘With this (new) strategy Festival will stay in the market with a homogeneous up-market product, granting the maximum quality standards in line with the Festival brand’.

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When was the Caribe ever considered a "deluxe" cruise ship? WHat about there other three ships, i also dont consider them "deluxe either.

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lebelty posted:
When was the Caribe ever considered a "deluxe" cruise ship? WHat about there other three ships, i also dont consider them "deluxe either.

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Statement from Festival Cruses Chairman Mr. G. F. Poulides.

Genoa, 10th February 2004.

We would like to confirm you that the financial and operative restructuring plan of the Festival Group is proceeding smoothly.

This plan is being deeply analyzed by the pool of banks and foresees the continuation of the Group's activities by focusing on the "de luxe" vessels (European Stars, European Vision, and Mistral) and on Caribe. The "discovery" vessels: Azur (formerly operating on the West Med itinerary), Bolero and Flamenco (chartered vessels), will no longer be operated by the Group.

With this strategy Festival will stay in the market with a homogeneous up-market product, granting the maximum quality standards in line with Festival brand.

As a consequence, as of today's date, m/v Azur is no longer part of the Festival's fleet and all the scheduled cruises of this vessel are to be considered as cancelled. Passengers already booked on m/v Azur will be reprotected on the other Mediterranean itineraries of Festival's "de luxe" vessels from March to June 2004.

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Revised schedules for Festival ships
19/2/2004

Confident that there will be a positive outcome ‘in the next few days’ of restructuring negotiations currently being held with Italian and French banks, Festival has announced new departure schedules for its three premium ships and Caribe.
The European Vision should resume its Caribbean programme from Pointe à Pitre on March 12, European Stars its programme from Genoa on March 16 and Mistral - also from Genoa - on March 19 says the line. These three ships remain arrested in port. Meanwhile Caribe’s cruises should resume on March 10 from Havana.

Earlier this month (on February 3), Festival said it expected to resume its sailing schedules between mid to end February.

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Looks like they are starting soon, any reservations yet?

The company has created a new website

www.festivalcruises.com

Probably they suppose to have very good chances to remain in the cruise bussiness.

Will they survive ? Quite difficult to say now.
Here in Italy their reputation is simply ruined, particularly after a special on Italian State owned tv ( generally our media aren't interested to the cruise world ).

Festival will focus in the 7 days cruises, where there is a strong competition.

European Stars will compete against Costa Fortuna and Msc Opera.

European Vision against Costa Victoria and Msc Lirica.

Mistral against Costa Atlantica.

Only Caribe, due to her particular route, will have not competitors.

The prices required by the three companies are pretty much the same....

Which of them offer the better product ?

I leave the answer to each of you....

[ 02-23-2004: Message edited by: Italian Cruiser ]