Crystal Cruises Secures SACE-Backed Financing for Two Exciting New Ships

Crystal Cruises has secured financing for two of the three new vessels it has on order, each designed to accommodate around 650 passengers with a gross tonnage of approximately 61,800. The financing was facilitated by an export credit facility backed by Italy’s SACE and involved a consortium that includes Citibank, Banco Santander, CaixaBank UK, Cassa Depositi e Prestiti, Credit Agricole, Monte dei Paschi, and Bper, with structural support from Cassa Depositi e Prestiti and Simest.

Construction is progressing as planned on the first vessel through a long-standing partnership with Italian shipbuilder Fincantieri. Last year, Crystal signed a memorandum of agreement for the two ships, with an additional option for a third unit, which is expected to be delivered in 2032. The first of these ships is anticipated to be ready in May 2028, followed by the second in 2030.

Both vessels will feature a promenade deck around their perimeter and will host a variety of dining options, including Umi Uma, the exclusive Nobu-branded restaurant at sea, and Beefbar. Additionally, these mega-yachts are projected to maintain one of the highest crew-to-guest ratios in the luxury cruise sector, providing bespoke accommodations for solo travelers as well as traditional stateroom layouts.

Manfredi Lefebvre d’Ovidio, the executive chairman of A&K Travel Group, which owns Crystal Cruises, highlighted the funding as a sign of confidence in the company’s strategic plans. Cristina Levis, the CEO of the group, expressed gratitude for the crucial support from Italian financial institutions and SACE.

A&K Travel Group acquired the assets of Crystal in 2022 following the previous owner’s cessation of operations. The cruise line resumed services in 2023 and is returning to prominence in the luxury ocean cruising sector. The newly financed ships are expected to enhance Crystal’s offerings in ultra-luxury travel by mid-2028.

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