Kristina Cruises, the Finnish cruise shipping company, says it will seek debt restructuring and will cancel it Canary Islands programme that was due to run until 20 March 2014.
The company operates the 12,700 gross ton Kristina Katarina that was built in Poland in 1982 under the Finnish flag.
Kristina Cruises said in a statement that a generally weak economic situation in Finland and a sharp fall in package tours to the Canary Islands had resulted in the decision, which was aimed to limit further losses. The company will submit its debt restructuring application to the regional court of Southern Karelia on 28 November.
However, the company will continue to operate its river cruise programme and intends to bring Kristina Katarina back to service from 27 March 2024 onwards, it said.
