Royal Caribbean Cruises Ltd. (RCCL) and its Chinese partner Ctrip have announced that they are ending the SkySea Cruise Line joint venture.
After the sale of Golden Era, it is expected that SkySea will wind down its business operations before the end of 2018. The companies expect that favorable business conditions in China and elsewhere will allow them to absorb most SkySea employees into available positions at RCCL and Ctrip, the two companies said in a statement.
Through its Royal Caribbean International brand, RCCL will continue to serve the Chinese market, with the largest fleet deployment in the region and a strong collaborative relationship with Ctrip.
Royal Caribbean expects the impact of the transactions to fall in a range of $0.12 to $0.15 a share in FY2018. The loss will be excluded from 2018 Adjusted Net Income.