Carnival Corporation & plc, which is the world’s largest cruise company, is reportedly in talks to sell its luxury brand Seabourn Cruise Line to Saudi Arabia’s Public Investment Fund. 

CNBC reports that “people familiar with the situation” told them about the negotiations. Carnival refused to comment on rumours or speculation to CNBC, while the Saudi fund did not reply to their inquires.

Seabourn has a fleet office ships, with a 23,000 gross ton expedition cruise ship newbuilding called Seabourne Venture due to sail on its maiden voyage in the summer and a similar ship scheduled to enter service in the spring of next year

The Carnival group has massive debts as a result of the Covid-19 pandemic that led to the suspension of virtually all its operations for months. Equity accounted for only $10.3 billion of there group’s $53.3 billion balance sheet at the end of February, i.e. the first quarter of its financial year.