Louis Cruise Lines: Acquisition of Norwegian Majesty

Louis Cruise Lines announces that it has completed the acquisition of the cruise ship MV “Norwegian Majesty” from Star Cruises for the amount of US$ 162 million (103 Million Euros). The said acquisition falls part of the already announced company policy for the renewal and upgrade of the fleet. MV “Norwegian Majesty” has been chartered back to Star Cruises until December 1st 2009.

The 41,000 ton and 207m long “Norwegian Majesty” was built in Finland in 1992. In 1999 she underwent rebuilding, lengthening and refurbishment worth US$53,3 million. This new generation cruise liner can carry 1,937 passengers in her 731 comfortable cabins and suites, 481 of which are outside ones. She features nine decks, five restaurants, six lifts, three swimming pools, a health and beauty spa center, an amphitheatrical show lounge, casino, a library and other large public areas.

MV “Norwegian Majesty” enters the Louis Cruise Lines fleet following the sale of two of the company’s older vessels, namely the ‘Princesa Marissa’ and the ‘Serenade’. The acquisition marks the beginning of a new era for the company and reinforces its position in the world cruise market.

Welcoming MV “Norwegian majesty” to the Louis Cruise Lines fleet, group Executive Chairman Costakis Loizou underlined the importance of this expansion, not only for the company but also for the Mediterranean cruise market and stated: “We remain unceasingly focused on the strategy for renewing our fleet and we are going ahead with the implementation of our announced plans to further upgrade the services we provide to the 350,00 passengers, from Europe, North America and a large number of other countries, whom we welcome onboard our cruise ships every year. Louis Cruise Lines today offers a unique product in the international market, in line with high level services at affordable prices and with particular emphasis on the carefully selected and unique destinations which are included in our itineraries. Many of those ports are not visited by other cruise operators, which differentiates our product worldwide”.

It should be noted that in September, Louis Cruise Lines is expected to complete the acquisition of MV “Norwegian Dream”, the second new generation, large cruise ship to be added to its fleet.

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