Crystal Cruises is selling its Boeing 787-8 for $25 million to an investment holding company associated with the CEO of the line’s parent, Genting Hong Kong.
According to a report in Seatrade, the sale is part of efforts to dispose of noncore assets and improve the company’s liquidity during the pandemic as well as save on costs associated with maintaining the aircraft.
Before the aircraft entered service in 2017, Crystal scrubbed its plans to use it for Crystal AirCruises, offering it instead for private charters.
Seatrade reported that that according to a Genting filing, the carrying value of the aircraft was approximately $61.9 million, meaning the sale will result in an approximately $37 million loss for Crystal.
Seatrade also reported that in June, Crystal sold its 12-seat Bombardier Global Express XRS aircraft to Resorts World Las Vegas, a Genting company, for $4 million. That aircraft has been used to transport cruisers to Crystal ocean, river or yachts sailings.
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