Royal Caribbean's Spanish Joint Venture Declares Bankruptcy
A Spanish unit of Royal Caribbean Cruises (NYSE: RCL) has filed for bankruptcy because "the headwinds caused by the pandemic are too strong."
The Pullmantur Cruceros joint venture with Cruises Investment Holding filed for bankruptcy protection under Spanish insolvency laws with an eye toward reorganizing. Royal Caribbean owns 49% of the company while Cruises Investment owns the 51% majority.
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Source Fool.com
