Sir Richard Branson, the multi billionaire British businessman, is reported to have raised most of the $1.7 billion he needs to launch Virgin Cruise, media reports say.
“It’s true that we are looking to set up Virgin Cruises and most of the money is now committed,” Branson told select media in Dubai on Monday. He also hinted that some funding is likely to come from Gulf, according to the Sydney Morning Herald newspaper in Australia. Britain has close links with many of the Gulf states.
Cruise Business Online understands that Tillberg Design, the Swedish interior design company with long track record in passenger shipping, is involved with the project. Sir Richard is reportedly in talks with yards in Italy and Germany to build the first two vessels of the company.
“We are looking at a very different kind of cruise company. We’re trying to create the kind of cruise ship that would be attractive to the kind of people who would never consider a cruise at the moment,” Sir Richard told The National newspaper in the United Arab Emirates, where he has reportedly been in discussion with investors.
Sir Richard, who is involved with the Abu Dhabi government-backed investment group Aabar in the space industry, is believed to be looking to raise $1.7 billion in a mix of debt and equity for the venture. He will look to build a cruise fleet from scratch, starting with the construction of two new vessels to work the traditional cruise markets in the Caribbean and Mediterranean.
A Virgin spokesman told The National the Gulf cruise market could be a later focus. If the necessary investment is forthcoming, the cruise line could start operating in 2019, he added.
“We would offer more entertainment and leisure opportunities on board the ships, making them attractive to a younger market. We believe we can supply the Virgin ‘touch’ on cabins, leisure and dining facilities,” the spokesman was quoted as saying.