LCL: $40 million agreement with Island Cruises
06/08/2002
Louis Cruise Lines announces that it has signed a cooperation contract with the “Island Cruises” company of Great Britain, effective immediately, for the management of its cruise ship “Island Escape” (with the exception of the technical division).

The contract will be valid until year-end 2005 and its value exceeds 40 million dollars. This agreement is of strategic importance and broadens the activities of Louis Cruise Lines in the area of foreign cruise ship management.

“Island Cruises” belongs to both Royal Caribbean International, the second largest cruise company in the world and First Choice, one of the largest trip organizing companies in Europe.

Super luxurious “Island Escape” can carry 1800 passengers in 756 cabins, while the staff number stands at 570 people.

Following the recent cooperation of Louis Cruise Lines with “Carnival”, the largest cruise company in the world, for the acquisition of “Thompson Spirit”, and its leasing to “TUI/Thomson”, the largest Tourism Organization in the world, the new agreement with “Island Cruises” in the area of cruise ship management gives a new dimension to the international activities of Louis Cruise Lines. At the same time, the mentioned agreement reflects the trust of the largest cruise companies in the world in Louis Cruise Lines’ ability to successfully manage cruise ships by offering high quality services.

During this year’s summer period, the “Island Escape” cruise ship offers 7-day cruises out of Majorca in the Western Mediterranean, while in the winter it will be offering cruises out of Brazil in South America.